DA Davidson Starts Applied Materials (AMAT) at Buy; Strong Cycle and Operational Leverage Drives Robust Earnings Growth
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Price: $15.97 +1.20%
Rating Summary:
9 Buy, 4 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
9 Buy, 4 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade AMAT Now!
DA Davidson initiates coverage on Applied Materials (NASDAQ: AMAT) with a Buy. PT $24 (5 Yr/Long-Term PT $35)
DA analyst says, "Over the next few years we believe Applied’s product portfolio is poised for strong growth from several technology drivers, such as the move to vertical transistors, increased use of advanced multi-chip packages and the delay in EUV lithography that requires increased use of double patterning. Additionally, the company has historically been very strong with the DRAM makers, which should drive growth in 2012."
"Applied maintains a healthy balance sheet with a minimal debt level of $205 million and ~$4 billion in cash and investments, resulting in just under $3 per share in net cash. In addition, the ongoing transition of the company’s manufacturing groups to low cost sites in Taiwan and Singapore are driving cost, margin and tax benefits."
For more ratings news on Applied Materials click here and for the rating history of Applied Materials click here.
Shares of Applied Materials closed at $15.62 yesterday, with a 52 week range of $10.27-$16.93.
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DA analyst says, "Over the next few years we believe Applied’s product portfolio is poised for strong growth from several technology drivers, such as the move to vertical transistors, increased use of advanced multi-chip packages and the delay in EUV lithography that requires increased use of double patterning. Additionally, the company has historically been very strong with the DRAM makers, which should drive growth in 2012."
"Applied maintains a healthy balance sheet with a minimal debt level of $205 million and ~$4 billion in cash and investments, resulting in just under $3 per share in net cash. In addition, the ongoing transition of the company’s manufacturing groups to low cost sites in Taiwan and Singapore are driving cost, margin and tax benefits."
For more ratings news on Applied Materials click here and for the rating history of Applied Materials click here.
Shares of Applied Materials closed at $15.62 yesterday, with a 52 week range of $10.27-$16.93.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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