Morgan Stanley cuts price targets on Applied Materials and D.R. Horton

what happened

Morgan Stanley kept its Equal-Weight rating on Applied Materials and cut the price target from $563 to $538, a 4.4% reduction. According to TradingView, the new target implies a 43.6% upside from the November 2 close of $374.53.

The bank also kept its Equal-Weight rating on D.R. Horton and reduced its target from $151 to $130, a 13.9% decrease. The new target implies a 15.0% downside from the November 2 close of $152.93. Rating data is provided by Benzinga.

why it matters

Lowering targets while keeping a rating usually signals a more cautious analyst view on the shares, though the rating itself stays unchanged. For investors in semiconductor equipment makers and homebuilders, such revisions are a sign of Wall Street sentiment, but on their own they rarely move the market.

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