BUZZ-<a href="https://laohu8.com/S/AMAT">Applied</a> Materials rises; <a href="https://laohu8.com/S/EOD">Wells Fargo</a> lifts PT** Chip equipment maker Applied Materials' AMAT.O shares rise 2.2% to $264.78 premarket
** Wells Fargo raises PT to $290 from $255, implying an upside of 9.7% to stock's last close
** Brokerage says that while contract liabilities and performance obligations are trending down, 53% of $1.7 bln in unsatisfied performance obligations is expected to be recognized within 12 months
** Average rating of 34 analysts is "buy," their median PT is $260 - data compiled by LSEG
** Up to last close, stock has risen 62.6% this year
(Reporting by Anhata Rooprai in Bengaluru)
((Anhata.Rooprai@thomsonreuters.com))
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