Pacific Crest Securities Believes Merger Timing Uncertainty Could Create Opportunity for Applied Materials

In a report published Monday, Pacific Crest Securities analyst Weston Twigg reiterated an Outperform rating and $25.00 price target on

. In the report, Pacific Crest Securities noted, “Approval of the Applied Materials-Tokyo Electron merger could slip into next year, and there is a small chance that China may deny the deal, in our view. However, we would be buyers on any weakness related to merger uncertainty, as AMAT shares are worth $25 on a stand-alone basis.” Applied Materials closed on Friday at $22.55.