Piper Jaffray Assumes Applied Materials (AMAT) at Overweight
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Piper Jaffray analyst Ruben Roy assumes coverage on Applied Materials (NASDAQ: AMAT) with a Overweight rating and a price target of $27.00 (from $21.00).
Roy comments, "AMAT held an upbeat annual Analyst Meeting as management continued to highlight progress and execution towards 2016 market share and operational improvement targets. We believe that industry fundamentals remain positive for equipment suppliers and that AMAT is amongst the best positioned to benefit. Management also provided high-level updates on the progress towards the AMAT/Tokyo-Electron merger."
Shares of Applied Materials closed at $22.96 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, New Coverage
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