Applied Materials (AMAT) PT Raised to $62 at Susquehanna
Susquehanna analyst Mehdi Hosseini raised his price target on Applied Materials (NASDAQ: AMAT) to $62.00 (from $42.00) while maintaining a Neutral rating after the company's October-quarter report and January-quarter guide exceeded consensus.
Hosseini said while AMAT continues to execute on all fronts, they are more intrigued by Display momentum as it now accounts for >30% of backlog and 12-14% of overall revenue vs. single digits a few years ago.
They are raising FY18 revenue estimate from $15.27b to $17.0b, and FY18 EPS from $3.45 to $4.21.