Applied Materials (AMAT): Notes From The Road - Needham

Needham & Company analyst, Edwin Mok, reiterated his Buy rating on shares of Applied Materials (NASDAQ: AMAT) after hosting investor meetings for AMAT CFO Bob Halliday and VP of IR Mike Sullivan.

The analyst is more confident on the growth trajectory of its SemiCap business due to solid product positions and market momentum. In Display, the analyst sees see multiple opportunities for AMAT to deliver upside to the LT growth target of ~50% by 2019. Investors seem concerned about peaking but the analyst remains confident on AMAT's growth trajectory driven by technology inflections in Semi coupled with the added drivers in Display.

No change to the price target of $34.

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 $28.43 yesterday.

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