Seaport Research initiated coverage of Applied Materials (AMAT) with a Buy rating and $500 price target. The firm believes the company is the best positioned of the global WFE suppliers, noting that while they do not have ASML‘s (ASML) monopoly in EUV lithography, they do have offerings in almost every other line of tools covering – deposition, etch, implant, CMP, cleaning and more. Applied Materials’ role in advanced semis is almost as irreplaceable as ASML, the firm added.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMAT:
- Applied Materials price target raised to $480 from $430 at UBS
- Applied Materials enters agreement with ASMPT to acquires its NEXX business
- KLA Corp. price target raised to $2,000 from $1,700 at Jefferies
- Applied Materials put volume heavy and directionally bearish
- U.S. orders pause on certain chip equipment sales to Hua Hong, Reuters says