Morgan Stanley lowered the firm’s price target on Applied Materials to $185 from $224 and keeps an Equal Weight rating on the shares. The firm updated its wafer fab equipment, or WFE, market forecasts, leaving its overall forecast of 5% year-over-year growth in 2025 unchanged, noting that this is below the consensus call for 15% growth. Morgan Stanley also notes that it maintains its cautious view on U.S. semiconductor production equipment, or SPE.
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- Applied Materials price target lowered to $217 from $240 at Citi
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