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Jefferies raises Applied Materials target price to $770

Jefferies raises Applied Materials target price to $770

AiCoinAiCoin2026/06/26 09:08
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Jefferies has raised the price target for Applied Materials from $510 to $770, maintaining a Buy rating. Applied Materials closed the previous trading day at $668. Jefferies provided a bullish scenario of $900 and a bearish scenario of $500. The increased complexity of DRAM manufacturing has expanded the serviceable market for Applied Materials, with a monthly wafer capacity of 100 thousand rising from $6 billion under 6F² architecture to $6.5 billion under 4F², and reaching $7.5 billion in the 3D DRAM phase. Applied Materials holds about 50% market share in HBM packaging equipment, and advanced packaging business revenue is expected to exceed $2 billion this year. Jefferies estimates Applied Materials’ EPS for fiscal year 2026 at $14.01 and for fiscal year 2027 at $18.06, with revenues of $36.7 billion and $44.2 billion, respectively. The $770 price target is based on a projected 2028 calendar year EPS of $21.25 and a price-to-earnings ratio of approximately 36 times.
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