智通财经APP获悉，9月22日，摩根士丹利分析师Shane Brett将应用材料(AMAT.US)股票评级从“持股观望”上调至“增持”，目标价由172美元大幅上调至209美元，并明确指出该股当前极具吸引力。
报告核心逻辑显示，应用材料股价较同业公司泛林集团(LRCX.US)存在25%的折价空间，而历史数据显示2023年以来平均折价水平为10%，本次目标价调整后隐含折价将为15%。
该行分析师特别强调，应用材料在DRAM资本支出领域的高敞口布局，以及全球新晶圆厂扩产带来的潜在收益，是其上调业绩预期的关键支撑——公司2026年每股收益预期由9.58美元提升至10.45美元。
从风险收益比看，该股牛市与熊市情景比例为3:1，在摩根士丹利覆盖的半导体设备板块中，应用材料对绿地DRAM项目的杠杆率最高，且分析认为中国、ICAPS及前沿逻辑领域的风险敞口相对可控，综合因素促使风险回报呈现明显上行倾向。
作为材料工程解决方案的全球领军企业，应用材料专注于为半导体、显示器及相关行业提供制造设备、专业服务及配套软件。
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