Stifel Reiterates Buy Rating on Applied Materials (AMAT)

Stifel analyst Brian Chin reiterated a Buy rating and $195.00 price target on Applied Materials (NASDAQ: AMAT).

The analyst commented, "Applied Materials reports F3Q(Jul) earnings, Thursday. We expect the company to meet/slightly exceed F3Q(Jul) revenue/EPS estimates and guide F4Q(Oct) flat-to-up.Overall, we continue to look for a flat-to-modestly higher sequential revenue trajectory. At a high level, this reflects YY strength in advanced foundry offset by YY digestion in mature/ICAPS investment.We believe Applied remains well-positioned to capture above-average share of leading-edge GAA and DRAM/HBM investment. Though into year-end, we believe DRAM investment in Korea has moderated some, which could be offset by improved spending from China. Analysis of China import data shows that YTD through June, semi equipment imports are down."

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 $188.45 yesterday.

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