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In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on
Applied MaterialsAMAT, and raised the price target from $15.00 to $18.00.
In the report, Deutsche Bank noted, “Although the midpoint of Jan Q guidance was below street expectations, strong Q1 bookings momentum (likely 10%+ q/q growth)and share gain comments suggest that AMAT is well positioned to outperform the 10-20% industry capex growth in 2014. Not only is the company gaining share in several critical segments, but it is also taking cost out of its business. AMAT appears to be making progress towards longer term $1.50-2.15 EPS target. That said, we believe shares are discounting some of these positives and making optimistic assumptions about share gains/margin improvement, 2014 EPS is unlikely to exceed ~$1.25. Maintain Hold.”
Applied Materials closed on Thursday at $17.56.
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