Applied Materials price target lowered to $200 from $220 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on Applied Materials (AMAT) to $200 from $220 and keeps a Hold rating on the shares. The company reported a solid earnings print and guidance but failed to meet a more optimistic investor bar as wafer fab equipment spending remains mixed in the near term, the analyst tells investors in a research note. The firm says that besides for some incremental gross margin upside, there was little from the report that would cause it to change its view on Applied Materials.