Applied Materials price target lowered to $179 from $185 at Morgan Stanley

Morgan Stanley analyst Joseph Moore lowered the firm’s price target on Applied Materials (AMAT) to $179 from $185 and keeps an Equal Weight rating on the shares. Applied continues to post “solid” results and guidance slightly below consensus is “at the noise level,” but there is growing uncertainty around export controls and trailing edge remaining strong even as trailing edge customers struggle remains a risk, the analyst tells investors in a post-earnings note.