UPDATE: Goldman Sachs Assumes Applied Materials (AMAT) at Conviction Buy
Get Alerts AMAT Hot Sheet
Rating Summary:
32 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
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Goldman Sachs assumed coverage on Applied Materials (NASDAQ: AMAT) with a Conviction Buy rating and a price target of $22, suggesting upside of 25%.
Analyst Toshiya Hari said, "The blocking of its merger with Tokyo Electron by the Department of Justice and cuts to capex in the logic/foundry segment made 2015 a challenging year for AMAT, with estimate cuts through the year, and stock price underperformance. Looking ahead, we believe 1) signs of a recovery in the order environment (i.e., primarily at the foundries), 2) further confirmation of market share gains and 3) an inflection in gross margins in 2H16, should all contribute towards higher estimates and a re-rating of the stock."
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 $17.05 yesterday.
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