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Fly News Breaks for September 17, 2017
AMAT
Sep 17, 2017 | 20:42 EDT
RBC Capital analyst Amit Daryanani upgraded Applied Materials to Outperform and increased its price target to $55 from $48 ahead of the September 27 Analyst Day. Daryanani things Applied Materials is positioned to achieve $4.00-$4.50 earnings per share by FY20 driven by stable/modest wafer fab equipment growth, margin expansion, a sustained market share uptick and display tailwinds, and buybacks. The analyst believes current wafer fab equipment levels are sustainable given the material shift in capital intensity and expects the analyst day to be a positive event.
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