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Fly News Breaks for August 17, 2018
AMAT
Aug 17, 2018 | 09:22 EDT
DA Davidson analyst Thomas Diffely kept his Buy rating and $70 price target on Applied Materials after its Q3 results, saying the last round of delays and stalled foundry projects have been incorporated in the company's disappointing outlook. Diffely adds that WFE spending will still exceed $100B in 2018-19 period, anticipating a slight recovery in Q4 and a "meaningful ramp" in 2019. The analyst also points to higher than expected ramp in Applied Materials' Services segment, which has now posted its 19th consecutive quarter of annual growth.
News For AMAT From the Last 2 Days
AMAT
Apr 16, 2024 | 09:48 EDT
AMAT
Apr 15, 2024 | 16:33 EDT
Evercore ISI initiated coverage of Applied Materials with an Outperform rating and $260 price target. The analyst started coverage of the semicap equipment sector with a positive view on industry fundamentals. The firm thinks four secular drivers have transitioned the group from ex-growth to a high-single digit growth industry, and models wafer fab equipment spending of $220B in 2032, up from $100B levels recently. Evercore likes all the large cap stocks, but favor Applied Materials due to its strategic approach and attractive valuation.
