Applied Materials (AMAT) PT Raised to $160 at Stifel Ahead of Analyst Day
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Stifel analyst Patrick Ho raised the price target on Applied Materials (NASDAQ: AMAT) to $160.00 (from $140.00) while maintaining a Buy rating ahead of the company's analyst day on Tuesday.
The analyst believes this will be another positive catalyst for the stock, stating "We have been positive on the company and stock for an extended period of time, and we suspect the focus will be in two key areas. First, we believe management will highlight how its current strategy and focus on next-generation challenges help set up its future product introductions, which drive its ability to outgrow the industry. We believe Applied is well positioned to see continued served available market (SAM) expansion, as well as share gains that drive this outperformance. Secondly, we expect management to provide a new interim target model that highlights the significant earnings leverage and cash flow generation it is capable of. We believe that is earnings leverage has been underestimated (including by us) and management’s update will showcase the continued improvements made on this front."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesStifel, Earnings
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