UBS Maintains a 'Neutral' on Applied Materials (AMAT); Expect Solid Qtr & Upbeat Outlook

UBS maintains a 'Neutral' on Applied Materials (NASDAQ: AMAT) price target raised from $11.40 to $13.50.

UBS analyst says, "Silicon orders likely inflect higher in Jan-12 on strength at foundry: We estimate Applied’s Jan-12 sales and EPS were near the high end of guidance at $2.0B and $0.12 and guides Apr-12 to $2.2B and $0.16, with EPS inline with consensus...Silicon orders likely inflect higher in Jan-12 on strength at foundry: We estimate Applied’s Jan-12 sales and EPS were near the high end of guidance at $2.0B and $0.12 and guides Apr-12 to $2.2B and $0.16, with EPS inline with consensus."

"We estimate Applied reports Jan-12 Energy and Environment System sales down -50% q/q and guides EES Apr-12 sales down -30-40% q/q as customers’ factory utilization rates remain low in the 50% range."

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 $12.93 yesterday.

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