Market Overview

J.P. Morgan Maintains Neutral on Applied Materials

Share:

J.P. Morgan is out with its report today on Applied Materials (NASDAQ: AMAT), maintaining Neutral.

In its report, J.P. Morgan writes, "Our Neutral rating on AMAT is based on the view that the company is trading similarly to prior trough P/TBV. The C2H11 and beyond horizon the semi equipment outlook is uncertain with sufficient logical reasons why semi capex could be either up or down from existing levels. We do expect the company to experience a decline in its EES business group which isn't likely to be offset by Flat Panel-related sales. As a result we believe AMAT is likely to trade relatively sideways for the foreseeable future, or at least until the outlook for the semi equipment business becomes more apparent."

J.P. Morgan maintains an $11 PT on AMAT.

At the time of posting, shares of AMAT were trading pre-market at $10.80, down 4.93% from Wednesday's close.

Posted-In: J.P. MorganAnalyst Color Analyst Ratings

 

Related Articles (AMAT)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
ABBBarclaysInitiates Coverage On
DPLOWilliam BlairUpgrades
SUPVItau BBADowngrades
GGALItau BBADowngrades
BMAItau BBADowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: Jefferies Lowers Price Target On Zions Bancorp To $18

Benzinga's Top Upgrades