UBS Maintains a 'Neutral' on Applied Materials (AMAT); Expect In-line Results; Varian Helps Jan-12

UBS maintains a 'Neutral' on Applied Materials (NASDAQ: AMAT) price target raised from $11.50 to $13.00.

UBS analyst says, "We estimate Applied’s Oct-11 sales and EPS were inline with its guidance at $2.2B and $0.20 and guides Jan-12 sales down 9% q/q (consensus at -4% q/q). We estimate Applied’s Oct-11 Silicon orders were $930M (-25% q/q), at 2005 trough levels, while sales were down –25% q/q. We believe Applied likely guides Jan-12 Silicon orders/sales (ex-Varian) +5%/-11% q/q. and orders/sales including Varian (NYSE: VAR) to be +25%/8% q/q to $1.2B/$1.1B."

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 $12.73 yesterday.

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