Goldman Sachs, Wells Fargo Boost Price Targets On Applied Materials Following Upbeat Earnings, But These Analysts Disagree

Applied Materials, Inc. AMAT reported better-than-expected results for its third quarter.

The company also said it sees Q4 adjusted earnings of $1.82 to $2.18 per share on sales of $6.25 billion to $7.05 billion.

Applied Materials shares rose 0.6% to $108.92 in the pre-market trading session.

Several analysts made changes to their price targets on Applied Materials today.

• Wells Fargo raised the price target on the stock from $120 to $125. However, Wells Fargo analyst Joseph Quatrochi maintained an Overweight rating on the stock.
• Goldman Sachs increased price target on the stock from $95 to $109. However, Goldman Sachs analyst Toshiya Hari maintained Applied Materials with a Buy.

However, these analysts lowered their price target on Applied Materials.

• Needham cut price target on the stock from $130 to $125. However, Needham analyst Quinn Bolton maintained Applied Materials with a Buy.
• Mizuho lowered AMAT’s price target from $160 to $150. Mizuho analyst Vijay Rakesh maintained a Buy rating on the stock.

Check out this: U.S. Stock Futures Down Ahead Of Earnings; Crude Oil Drops