Piper Jaffray Assumes Applied Materials (AMAT) at Overweight

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."

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 $22.96 yesterday.

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