ImportantAMAT
Explain this story: Morgan Stanley resets AMAT stock price target by $79
Morgan Stanley has revised its price target for Applied Materials (AMAT) down to $563 from $642, despite raising its 2027 revenue and EPS forecasts due to increased NAND demand. The cut reflects a lowered valuation multiple from 26x to 22x, as the firm believes the stock's current price already accounts for much of the positive business outlook. Despite the price target reduction, it still suggests a 33% upside from its current trading price, with AMAT having seen significant year-to-date and year-over-year gains.
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Morgan Stanley has revised its price target for Applied Materials (AMAT) down to $563 from $642, despite raising its 2027 revenue and EPS forecasts due to increased NAND demand. The cut reflects a lowered valuation multiple from 26x to 22x, as the firm believes the stock's current price already accounts for much of the positive business outlook. Despite the price target reduction, it still suggests a 33% upside from its current trading price, with AMAT having seen significant year-to-date and year-over-year gains.
Article tone: Positive This describes the words the journalist used. It is not a prediction, and not advice.