Applied Materials shares are trading higher. Raymond James maintained an Outperform rating on the stock and raised its price target from $160 to $180.
Portfolio Pulse from Benzinga Newsdesk
Raymond James has maintained an Outperform rating on Applied Materials (AMAT) and increased its price target from $160 to $180, resulting in the company's shares trading higher.
January 19, 2024 | 4:46 pm
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Applied Materials' stock is trading higher after Raymond James reaffirmed an Outperform rating and raised the price target from $160 to $180.
The increase in price target by Raymond James is a strong positive signal to investors, suggesting higher future valuation and confidence in the company's performance. This typically leads to a short-term increase in stock price as market sentiment is buoyed by the analyst's upgraded outlook.
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IMPORTANCE 85
RELEVANCE 100