Morgan Stanley Lowers 2010, 2011 Estimates For Applied Materials (AMAT)
3/16/2010- Morgan Stanley analysts are lowering their fiscal 2010 and 2011 estimates for Applied Materials (NASDAQ: AMAT) on lower SunFab expectations.
Analysts Atif Malik and Michael X. Chu said, "Within the context of our cautious industry view, we continue to view AMAT as defensive on a multi-year display spending cycle and valuation. However, we are lowering our FY10/'11 SunFab solar sales expectations based on recent industry checks. Our SOTP analysis shows that the stock is not assigning much value to thin film business but we think it is prudent to take down expectations."
The bank expects fiscal 2010 EPS of $0.63, vs. consensus estimates of $0.70, and fiscal 2011 EPS of $1.06, vs. consensus estimates of $1.11.
Write to Chip Brian at cbrian@tradethetrend.com
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