Stifel Says Applied Materials (AMAT) is Best Positioned for Virtual/Augmented Reality Opportunity; Reiterates Buy

September 15, 2016 11:57 AM EDT
Get Alerts AMAT Hot Sheet
Price: $33.75 +0.18%

Rating Summary:
    24 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Stifel reiterated a Buy rating and $36.00 price target on Applied Materials (NASDAQ: AMAT) ahead of the company's analyst day. Stifel believes that Applied is best positioned to benefit from an emerging Virtual reality and augmented reality trend due to its leadership position in the semiconductor equipment and display equipment markets.

Analyst Patrick Ho commented, "Ahead of the company’s Analyst Day next week, we wanted to examine an emerging opportunity that could provide significant upside potential in future years. We believe the emerging virtual reality (V/R) and augmented reality (A/R) markets are future growth catalysts in both its semiconductor equipment and its display equipment businesses. We believe the growth in these markets from the current gaming opportunity to more real-life applications will be drivers for additional wafer starts and an acceleration of OLED capacity in the industry. Given Applied’s exposure on both of these ends, we believe it is the best positioned company to capitalize on this opportunity and we would not be surprised if management provides some additional commentary and forecasts."

For an analyst ratings summary and ratings history on Applied Materials click here. For more ratings news on Applied Materials click here.

Shares of Applied Materials closed at $29.43 yesterday.

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