JPMorgan Boosts AMAT Target to $660 as Chip Demand Remains Strong
JPMorgan Chase & Co. raised its price target for Applied Materials (NASDAQ:AMAT) from $515 to $660, suggesting a potential upside of 27.56% from the company's previous close.
The brokerage maintains an 'overweight' rating on the manufacturing equipment provider's stock, indicating strong price appreciation.
Other research firms have also commented on AMAT, with Sanford C. Bernstein reiterating its 'outperform' rating and Bank of America reducing its target price from $720 to $650 while setting a 'buy' rating.
KeyCorp increased its price target on Applied Materials from $550 to $750, giving the company an 'overweight' rating in a research report. Wells Fargo & Company boosted its price objective on AMAT from $715 to $740 and gave the stock an 'overweight' rating.