Market Overview

UPDATE: JP Morgan Downgrades Applied Materials to Underweight on Share Price Run-Up

Share:
Related AMAT
Benzinga's Top Downgrades
UBS: Time to Buy Applied Materials, Apple Could Drive Near-Term Upside
The Vetr community has upgraded $AMAT to 3.5-Stars. (Vetr)

JP Morgan downgraded its rating on Applied Materials (NASDAQ: AMAT) from Neutral to Underweight with a reiterated $10 price target.

JP Morgan said, "We are downgrading our rating and trimming our ests for Applied Materials to reflect our continued bearish semi capex outlook. We think the recent run-up in the stock is a near term short opportunity as we think the upcoming earnings season and associated 2013 capex guidance by major semi device makers will be negative for AMAT and the SemiCap sector as a whole. … We think AMAT and other large cap SemiCap stocks are currently disconnected from the deteriorating industry outlook and recommend long only investors trim existing positions or recommend short investors take positions ahead of earnings season."

Applied Materials closed at $11.81 on Friday.

Latest Ratings for AMAT

DateFirmActionFromTo
Apr 2016SusquehannaDowngradesNeutralNegative
Apr 2016UBSUpgradesNeutralBuy
Apr 2016DA DavidsonDowngradesBuyNeutral

View More Analyst Ratings for AMAT
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (AMAT)

View Comments and Join the Discussion!