In a report published Monday, D.A. Davidson analyst Thomas Diffely reiterated a Buy rating and $27.00 price target on Applied Materials AMAT.
In the report, D.A. Davidson noted, “We forecast AMAT to post October quarter revenue and EPS at or slightly above our estimates of $2.275 billion and $0.26, respectively. Total revenue was likely flat sequentially as a modest decline in the core semiconductor business (low-to-mid single digit) was partially offset by growth in the lumpy flat panel display segment. While industry fundamentals point towards a flat quarter, our view of potential upside comes from the fact that the company typically outperforms during this period due to end of year sales pushes during the last fiscal quarter.”
Applied Materials closed on Friday at $22.43.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in