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Fly News Breaks for August 17, 2018
AMAT
Aug 17, 2018 | 09:05 EDT
B. Riley FBR analyst Craig Ellis reiterated a Buy rating on Applied Materials but cut his price target to $63 from $70 following the company's Q3 results. Though there were some positives to the quarter, including the sales and EPS beat, there were also two negatives that pulled shares lower after the market close on Thursday "when we wrongly expected a relief rally," Ellis says in a research note to investors. While select segments continue to exceed forecasts, Ellis acknowledges disappointing headlines sales guidance in the last few quarters.
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