Applied Materials price target raised to $139 from $126 at Craig-Hallum

Craig-Hallum analyst Christian Schwab raised the firm’s price target on Applied Materials to $139 from $126 and keeps a Buy rating on the shares following the better than expected results and guidance. The company is seeing strength in its ICAPS business offsetting material declines in memory customer spending and moderations in leading edge foundry/logic spending, the analyst tells investors in a research note.