Applied Materials Shares Up; Nomura Raises Price Target
January 02 2020 - 12:56PM
Dow Jones News
By Michael Dabaie
Applied Materials Inc. (AMAT) shares were up 1.6% to $62 in
midday trading.
Nomura raised it price target on the provider of materials
engineering solutions used for chips and advanced display to $75
from a prior $68 and reiterated its Buy rating.
Nomura said it thinks AMAT will benefit from a cyclical rebound
in global wafer-processing equipment sales in 2020, as well as from
secular trends the firm said it thinks will drive superior growth
over the next few years.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
January 02, 2020 12:41 ET (17:41 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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