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Fly News Breaks for October 26, 2015
AMAT
Oct 26, 2015 | 06:25 EDT
Nomura upgraded Applied Materials (AMAT) to Buy with a $22 price target on shares. Analyst Romit Shah said expectations have come down a lot sinced the failed TEL merger, multiple capex cuts, and weak October guidance. The analyst said valuation reflects concerns and is pricing in a decline in revenues, which could actually grow next year as Intel (INTC) and others ramp 3D NAND, and WFE spending moves towards Logid/Foundry.
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