Lynx Bumps Up Applied Materials Price Target By 43% - Applied Mat (NASDAQ:AMAT)

Lynx analysts KC Rajkumar and Jahanara NIssar raised the price target on Applied Materials Inc AMAT to $200 from $140, implying a 35% upside, reiterated a Buy rating on the shares.
The analysts contended that many on the Street focused on the fiscal Q4 earnings miss and near-term supply-chain issues and "may have missed the incrementally bullish multi-year view CFO Bob Halliday provided."
The analyst pair, who note that Applied Materials shares have been stuck at the $140 level since the company's investor day in April, believes the earnings call "may have been bullish enough for the stock to re-rate."
Applied Materials reported Q4 FY21 revenue of $6.12 billion, up 31% year-on-year, missing the consensus of $6.34 billion. Adjusted EPS of $1.94 missed the consensus of $1.95.
Applied Materials sees Q1 FY22 revenue of $5.91 billion - $6.41 billion, below the consensus of $6.5 billion. It sees EPS of $1.78 - $1.92, below the consensus of $2.01.
Price Action: AMAT shares traded lower by 0.02% at $147.51 on the last check Tuesday.