In a report published Friday, Stifel Nicolaus analyst Patrick Ho reiterated a Buy rating on Applied Materials AMAT, and raised the price target from $17.00 to $18.00.
In the report, Stifel Nicolaus noted, “On Thursday after the market close, Applied Materials reported 3Q13 (July) earnings results that essentially met ours and consensus estimates. Although after hours trading saw a further sell off due to the October quarter outlook, we do not believe management's commentary was a major surprise and is very consistent with current industry conditions (see our preview note, Applied Materials: 3Q13 Preview: Memory and FPD Providing Near Term Support, Aug. 12). In our view, any pullback represents an attractive entry point into this name.”
Applied Materials closed on Thursday at $15.33.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.