Applied Materials (AMAT) is one of the world's largest suppliers of fabrication equipment to semiconductor, LCD and solar PV cell manufacturers. Applied's product breadth, strong position in China, improving trends across served markets, new design wins, market share gains, management execution and solid financials are the reasons for our positive opinion on the shares.
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We are, therefore, upgrading AMAT shares to Outperform. Our target price of $18 (14.4x P/E) supports this view.
APPLD MATLS INC (AMAT): Free Stock Analysis Report
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