Stifel Nicolaus is out with its report today on Applied Materials AMAT, lowering its PT to $14 from $15.
In its report, Stifel Nicolaus writes, "While the factors are clearly negative for Applied in the near term (and more so with the weakness in the other markets), we also believe the market pullback has brought the stock to essentially the bottom in this current cycle. Thus, we will maintain our Buy rating based on valuation (trough book values), but we are slightly lowering our price target to $14 (from a recently revised $15), based on 11x our new CY12 pro-forma EPS of $1.25, excluding
options."
At the time of posting, shares of AMAT were trading pre-market at $10.75, down 5.37% from Wednesday's close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorPrice TargetAnalyst RatingsInformation TechnologySemiconductor EquipmentStifel Nicolaus
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in