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UPDATE: Barclays Upgrades Applied Materials (AMAT) to Overweight; CEO Addition Is Likely Inflection Point

June 20, 2012 7:34 AM EDT Send to a Friend
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Price: $22.55 -0.22%

Rating Summary:
    14 Buy, 5 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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(Updated - June 20, 2012 1:17 PM EDT)

Barclays upgraded Applied Materials (NASDAQ: AMAT) from Equalweight to Overweight with a price target of $15.00.

Analyst, C.J. Muse, said, "We view Applied's appointment of Gary Dickerson, a strong industry CEO, as President as a very important inflection point for AMAT shares. While improvements may come slowly, we highlight Gary's key strengths - a strategic thinker, data driven, decisive - that should enable him to formulate a winning strategy and turn around the company."

Leaves FY12/13 EPS estimate at $0.95/$1.13

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 $11.18 yesterday.

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