UPDATE: Goldman Sachs Removes Applied Materials (AMAT) From Conviction Buy List
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - October 4, 2016 8:38 AM EDT)
Goldman Sachs downgraded Applied Materials (NASDAQ: AMAT) from Conviction Buy to Buy with a price target of $33 (unchanged). The downgraded follows stock price outperformance.
"We remove Applied Materials (AMAT) from the Conviction List with a) the stock having outperformed our semiconductor and semi capital equipment coverage by 1100bps/2600bps over the past 3/6 months, and b) limited near-term catalysts. That said, we maintain our Buy rating on AMAT for the reasons listed below and continue to view the company as a long-term winner in the semi cap equipment market," said analyst Toshiya Hari.
Shares of Applied Materials closed at $29.92 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Securities Downgrades Community Health (CYH) to Underperform
- Drexel Hamilton Raises Price Target on VMware (VMW) Following 3Q
- Jefferies Raises Price Target on Western Digital (WDC) to $75; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Related EntitiesGoldman Sachs Conviction Buy List, Goldman Sachs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!