Craig-Hallum Upgrades Applied Materials (AMAT) to Buy

Craig-Hallum analyst Christian Schwab upgraded Applied Materials (NASDAQ: AMAT) from Hold to Buy with a price target of $450.00.

The analyst commented: "Pretty simple and pretty good! Management expects strong semiconductor equipment growth of over 20% in calendar year 2026 with growth weighted as previously outlined to the 2H of the year, with strong growth expected to continue into 2027. As it relates to its previous expectation for global semiconductor revenue to reach $1 trillion in 2030, they now believe it can reach that level in 2026. The company is also seeing longer visibility from its customers to support continued strong demand for AI advanced node chips, HBM and advanced packaging. The company sees AI-driven demand to last for an extended period. This is best illustrated by data center wafer starts being greater than PCs soon and surpassing smartphones by 2029. We are upgrading shares to a Buy and raising our price target to $450 based on 35x our FY 2027 earnings estimate of $12.95."

For an analyst ratings summary and ratings history on Applied Materials click here. For more ratings news on Applied Materials click here.

Shares of Applied Materials closed at $328.39 yesterday.

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