Cantor Fitzgerald analyst C.J. Muse upgraded Applied Materials (AMAT) to Overweight from Neutral with a price target of $260, up from $220. The firm also added Applied Materials to its Top Picks, saying it expects positive spending reads from TSMC’s (TSM) CapEx and ASML (ASML) orders to be a rising tide for Semiconductor Process Equipment. The firm views a clear path to share gains and CY25 earnings power approaching $11 in a $110B Wafer Front End world.
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