BUZZ-Deutsche Bank upgrades Applied Materials to 'buy', shares rise

Reuters01-24
BUZZ-Deutsche Bank upgrades <a href="https://laohu8.com/S/AMAT">Applied</a> Materials to 'buy', shares rise

** Shares of chip equipment maker Applied Materials AMAT.O rise 1.3% to $322.94

** Deutsche Bank upgrades stock to "buy" from "hold"; expects wafer fab equipment, which AMAT manufactures, to be stronger going into 2026–27

** Raises PT to $390 from $275, implying an upside of 22.3% to the stock's last closing price

** "We view the co's current discount valuation to semicap peers as overdone, and see potential for this valuation gap to shrink going forward," Deutsche Bank says

** Average rating of 35 analysts is "buy," their median PT is $287.50 - data compiled by LSEG

** In 2025, stock rose 58.02%

(Reporting by Anhata Rooprai in Bengaluru)

((Anhata.Rooprai@thomsonreuters.com))

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