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Fly News Breaks for September 25, 2015
AMAT
Sep 25, 2015 | 08:24 EDT
CLSA upgraded Applied Materials to Buy with a $20 price target. Analyst Mark Heller said the Semicap Equipment sector is trading at the biggest discount to the S&P 500 since mid-2012. Heller believes Applied Materials weak stock performance year-to-date is partly due to the failed Tokyo Electron merger and disappointing gross margin performance due to mix issues and new products. The analyst believes Applied is capable of fixing margin issues over time and views valuation as attractive.
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