Barclays Maintains Underweight on Applied Mat, Raises Price Target to $140
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Raimo Lenschow has maintained an Underweight rating on Applied Materials (NASDAQ:AMAT) but increased the price target from $120 to $140.
January 16, 2024 | 5:06 pm
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NEUTRAL IMPACT
Barclays has maintained an Underweight rating on Applied Materials but raised the price target from $120 to $140, indicating a potential downside risk but with a higher valuation estimate.
The Underweight rating suggests that Barclays believes AMAT may underperform the sector or the overall market. However, the increase in the price target from $120 to $140 indicates a recognition of the company's potential value or improved fundamentals. This mixed signal could lead to a neutral short-term impact on the stock as the market digests both the caution implied by the Underweight rating and the optimism of a higher price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100