Applied Materials (AMAT) PT Lifted to $25 at Credit Suisse Following Strong Results

Credit Suisse analyst F. Ahmad reiterated an Outperform rating and raised his price target on Applied Materials (NASDAQ: AMAT) to $25.00 (from $23.00) following a strong beat driven by NAND.

Ahmad commented, "AMAT is clearly outgrowing peers this year, driven by favourable mix shift within WFE (NAND/Foundry increasing, DRAM declining) and strong growth in Display (China/OLED investments). We expect C2H16 Rev/EPS to remain flattish from C2Q, given our view of flattish H/H Rev growth in SSG and Company's positive commentary on Display. We continue to see remain positive on AMAT and broader Semicap group. We are raising our estimates and TP to $25 (from $23) representing 15x of CY16 EPS."

For an analyst ratings summary and ratings history on Applied Materials click here. For more ratings news on Applied Materials click here.

Shares of Applied Materials closed at $19.91 yesterday.

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