Market Overview

UPDATE: Bank Of America Reiterates On Applied Materials Following Company Analyst Day

Share:
Related AMAT
10 Stocks With Highest Close In Three Weeks
10 Stocks That Closed Highest In A Week
What Should Investors Do During Market Pause? (Investor's Business Daily)

In a report published Tuesday, Bank of America analyst Krish Sankar reiterated a Neutral rating on Applied Materials (NASDAQ: AMAT), and raised the price target from $23.00 to $25.00.

In the report, Bank of America noted, “AMAT held an analyst day at Semicon West in San Francisco yesterday. While there were no new updates to the financial models of AMAT stand-alone as well as AMAT + TEL combined, the management reiterated the thesis of AMAT benefitting from the technology inflections (FinFET and 3D NAND) with the goal of targeting 2-4 points of wafer fab equipment (WFE) share gains by 2016. The combined entities earnings power is still forecasted to be $2.40 at a $37B WFE environment (we don't expect any updates to the financial model until after the deal closes). With the stock already discounting $2+ in earnings power, we maintain Neutral rating.”

Applied Materials closed on Monday at $22.96.

Latest Ratings for AMAT

DateFirmActionFromTo
Oct 2016Goldman SachsMaintainsBuy
Aug 2016UBSMaintainsBuy
Aug 2016CitigroupMaintainsBuy

View More Analyst Ratings for AMAT
View the Latest Analyst Ratings

Posted-In: Bank of America Krish SankarAnalyst Color Price Target Analyst Ratings

 

Related Articles (AMAT)

View Comments and Join the Discussion!