Applied Materials price target raised to $440 from $390 at Needham

Group 1 - Needham raised the price target on Applied Materials (AMAT) to $440 from $390 while maintaining a Buy rating on the shares [1] - The company reported a significant beat-and-raise quarter, which has been anticipated by investors for some time [1] - Management anticipates strong wafer fabrication equipment (WFE) growth to continue into 2027 [1]