Deutsche Bank upgrades Applied Materials to 'buy', shares rise

Shares of chip equipment maker Applied Materials AMAT.O rise 1.3% to $322.94

Deutsche Bank upgrades stock to "buy" from "hold"; expects wafer fab equipment, which AMAT manufactures, to be stronger going into 2026–27

Raises PT to $390 from $275, implying an upside of 22.3% to the stock's last closing price

"We view the co's current discount valuation to semicap peers as overdone, and see potential for this valuation gap to shrink going forward," Deutsche Bank says

Average rating of 35 analysts is "buy," their median PT is $287.50 - data compiled by LSEG

In 2025, stock rose 58.02%