Applied Materials upgraded to Overweight from Neutral at JPMorgan JPMorgan upgraded Applied Materials to Overweight citing confidence in the current Moore’s Law–driven wafer equipment spending cycle and the closing of the merger with Tokyo Electron. The firm raised its price target for shares to $30 from $19.
Applied Materials weakness creates buying opportunity, says Stifel Stifel believes that Applied Materials' (AMAT) fundamental story has not changed, while the weakness in the shares is an overreaction to certain issues, including the Microchip (MCHP) preannouncement. Stifel expects the company to benefit from strong WFE spending in 2015 and increasing capital intensity trends in the chip sector. The firm keeps a $25 price target and Buy rating on the shares.