Applied Materials, Inc. (NASDAQ:AMAT) is among the 12 Most Profitable NASDAQ Stocks to Buy Right Now. On January 27, Mizuho analyst Vijay Rakesh upgraded the stock to Outperform from Neutral, citing increased spending in the U.S, Japan, and Taiwan. The firm also hiked its price target to $370 from $275.
This follows Deutsche Bank’s adjustment on January 23 when analyst Melissa Weathers upgraded the stock rating to Buy from Hold and also raised the firm’s price target to $390 from $275.
The bank cited favorable trends concerning wafer fabrication equipment heading into the new year and continuing through 2027. Deutsche Bank also noted that the stock’s current valuation appears at a discount in comparison to peers, with the gap likely to narrow in the future.
Earlier on January 20, Needham analyst Charles Shi lifted the firm’s price target on Applied Materials, Inc. (NASDAQ:AMAT) to $390 from $260, while maintaining a Strong Buy rating on the stock.
The adjustment follows the Needham Growth Conference, where presenters reiterated a bullish outlook on the semicap sector, given the surge in demand over the last three months.
As of the close of business on January 30, AMAT is a Strong Buy with a one-year average share price target of $338.24, representing an upside of 5%.
Applied Materials, Inc. (NASDAQ:AMAT) is a leader in materials engineering solutions engaged in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries.
While we acknowledge the potential of AMAT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best Defense Stocks to Buy in the S&P 500 and 14 Best Booming Stocks to Buy Right Now.
Disclosure: None.
