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Fly News Breaks for August 16, 2019
AMAT
Aug 16, 2019 | 08:55 EDT
Craig-Hallum analyst Christian Schwab downgraded Applied Materials to Hold from Buy and lowered his price target to $46 from $50 following the company's Q3 results. In a research note to investors, Schwab says management was "hesitant" to call Q3 the bottom given the current macroeconomic environment. Schwab believes that shares are fairly valued and is moving to the sidelines with management's limited visibility into the timing or magnitude of an expected gradual recovery as well as higher than expected OpEx.
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