IN a note released earlier today, Credit Suisse analyst, John Pitzer upgraded shares of Applied Materials, Inc. AMAT from Neutal to Outperform and raised the price target from $22 to $28.
Pitzer's upgrade is based on:
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- A "solid" risk vs. reward scenario, Applied Materials currently trades below the peer average P/E ratio.
- Potential structural P/E improvement for P/E
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