Market Overview

UPDATE: Bank of America Trims PO to $13.50 on Applied Materials; In-Line Guidance

Related AMAT
Stock Market News for August 18, 2014 - Market News
Stocks To Watch For August 15, 2014
Week Ahead: Inflation Data and Wal-Mart Earnings (Fox Business)

Bank of America reduces its price objective on Applied Materials (NASDAQ: AMAT) from $14.50 to $13.50 and reaffirms its Neutral rating on the stock.

Bank of America notes, "We adjust our CY12 and CY13 rev/EPS estimates to $9.6B/$1.00 (from $9.5B/$1.00) and $10.4B/$1.14 (from $10.7B/$1.21) respectively. We value AMAT on CY13E EPS. Applying peer average multiple of ~12x on CY13E EPS, we arrive at our price objective of $13.50 (prior target was $14.50)."

AMAT closed at $10.48 on Thursday.

Posted-In: Bank of AmericaAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

Related Articles (AMAT)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters