Source: michelmond / Shutterstock.com
Applied Materials (NASDAQ:AMAT) stock is climbing higher on Friday after getting new price targets following its latest earnings report.
Morgan Stanley analyst Joseph Moore starts us off by increasing his price target for AMT stock from $125 per share to $139 per share. He did so while maintaining the firm’s “equal-weight” rating for the company’s shares.
Next is J.P. Morgan analyst Harlan Sur raising his price target for AMT stock from $145 per share to $165 per share. This comes alongside an “overweight” rating for the semiconductor company’s shares.
Bank of America also joined the price target increase spree for AMAT stock. This saw the firm’s analysts setting a new price target of $175 per share, as compared to the prior price target of $165 per share.
Finally, Berenberg Bank is the last firm we’re covering today increasing their price target for AMAT shares. Its analysts raised their price target for the company’s shares from $150 each to $175 each.
What To Expect From AMAT Stock
With all of these new price targets in place, investors might wonder about the overall stance on AMAT stock. The current analysts’ consensus price prediction for the company’s shares is $147.12. That comes with a consensus rating of “moderate buy” based on 28 opinions.
AMAT stock is up roughly 1% as of Friday morning. That comes as some 2.6 million shares change hands. For comparison, its daily average trading volume is about 5.9 million shares.
Investors wanting even more of the latest stock market stories will want to keep reading!
We have breakdowns of all the biggest stock market news worth reading about on Friday! A few examples include what has Chinese stocks down today, a cut price target for AMC Entertainment (NYSE:AMC) stock, as well as details on Athersys (NASDAQ:ATHX) stock falling today. All of that info is available by checking the links below!
More Friday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.