UPDATE: Goldman Sachs adds Applied Materials (AMAT) to Conviction Buy List on New CFO

February 26, 2013 12:06 PM EST
Get Alerts AMAT Hot Sheet
Price: $34.16 +1.21%

Rating Summary:
    24 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 18 | New: 11
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(Updated - February 26, 2013 12:18 PM EST)

Intra-day, Goldman Sachs upgraded Applied Materials (NASDAQ: AMAT) from Buy to Conviction Buy saying Bob Halliday significant positive for the company given his strong track record.

"We view Mr. Halliday, together with Mr. Dickerson (prior CEO of Varian), as key to the company's success in growing implant share from 30% in 2004 to 70% in 2011, when Applied acquired Varian at a 50%+ premium," the analyst said. "We believe Mr. Halliday’s track record and prior success bodes well for Applied's ability to execute on a more streamlined cost structure and potential share gain in SPE."

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 $13.23 yesterday.

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