Morgan Stanley analyst Joseph Moore previewed Applied Materials' upcoming analyst day on September 27, predicting the company will give "much higher" long term earning targets than those it pointed to a year ago. At its 2016 analyst day, the company guided to EPS of $2.80 in 2019 and Moore predicts Applied management is likely to set a new EPS target of $4.20 for three years from now, which he still thinks will be viewed as conservative by analysts as a group. Moore, who sees the meeting being a positive catalyst for the stock, keeps an Overweight rating and $56 price target on Applied Materials shares.