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Fly News Breaks for November 18, 2019
AMAT
Nov 18, 2019 | 08:25 EDT
Argus analyst Jim Kelleher raised his price target on Applied Materials to $72 and kept his Buy rating after its better than expected Q4 results. The analyst believes that the company's positive annual comps should resume in Q1, while its recent acquisition of Japan's Kokusai Electric Corp should prove to be "complementary" to its single-wafer processing systems. Kelleher sees Applied Materials shares as "attractive" based on valuation as well the company's prospects for long-term top-line growth and margin expansion.
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