Applied Materials (AMAT): Expecging Guide Up At Analyst Day Preview - Needham
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Needham & Company analyst, Edwin Mok, reiterated his Buy rating on shares of Applied Materials (NASDAQ: AMAT) ahead of its analyst day on September 21st. The analyst expects the event to serve as the next catalyst for the stock, and he expects management to meaningfully increase its target model to the range of ~$3/share earnings in 3 years time frame.
The analyst expects management to focus on its expanding opportunities in both Semi and Display, driven by more materials innovation in both markets and ramp-up of new products. Rather than being worried that the current cycle might be peaking, the analyst sees strong industry momentum coupled with AMAT's share gain supporting sustainable growth.
No change to the price target of $34.
Shares of Applied Materials closed at $30.15 yesterday.
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