Applied Materials price target raised to $250 from $220 at B. Riley

B. Riley analyst Craig Ellis raised the firm’s price target on Applied Materials to $250 from $220 and keeps a Buy rating on the shares. The analyst cites strong execution and favorable growth positioning for the target increase following the company’s better than expected results. The firm expects a gradual industry recovery can gain steam through 2024 and accelerate in 2025, and says the shares can continue to outperform.