UPDATE: Jefferies Starts Applied Materials (AMAT) at Buy
- Fed to Remain Sitting on Their Hands in September - Goldman Sachs
- Unusual 11 Mid-Day Movers 9/4: (KBIO) (QKLS) (CFI) Higher; (VNCE) (ACI) (STXS) Lower
- Headline Jobs Data Misses but Unemployment Dips
- Apple (AAPL) Stock Down Into iPhone Event for First Time Since Original Released - Analyst
- Wall St. drops as jobs data leaves Fed-watchers hanging
Jefferies initiated coverage on Applied Materials (NASDAQ: AMAT) with a Buy rating and a price target of $28.00.
Analyst Sundeep Bajikar said, "We believe Moore Stress is driving AMAT's merger with TEL. We are confident the merger would complete in 2H14, and translate into increased pricing power and scale benefits. We believe AMAT is best positioned among SemiCap players to benefit from a combination of 1) industry consolidation, 2) technology inflections, and 3) foundry competition. We expect higher margins and cash returns to drive multiple expansion."
Shares of Applied Materials closed at $20.19 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Canaccord Genuity Starts vTv Therapeutics (VTVT) at Buy
- UBS Cuts Price Target on Infoblox (BLOX) to $22 Following 4Q EPS Beat
- Good Technology Will Help BlackBerry (BBRY) Gain Market Share, but L-T Handset, Software Issues Remain - Oppenheimer
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesJefferies & Co, Definitive Agreement
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!