Shares of Applied Materials, Inc. AMAT have gained roughly 6.3 percent since the beginning of the year. However, over the past month, they have experienced some weakness, tumbling almost 6.4 percent. Following the recent decline, the Vetr crowd seems to believe that some upside potential has been unlocked.
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On Thursday, top raters at the Vetr community decided to upgrade their rating on shares of the tech company, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.
The new rating seems more aligned with the crowd’s target price of $21.93, which implies an 11 percent upside potential from current valuations. Also in line with the target and new rating from the top raters, the crowd has issued 87 percent bullish ratings on Appiled Materials.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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