Applied Materials Shares Up; Nomura Raises Price Target

Date : 01/02/2020 @ 5:56PM
Source : Dow Jones News
Stock : Applied Materials Inc (AMAT)
Quote : 46.05  3.77 (8.92%) @ 5:11PM

Applied Materials Shares Up; Nomura Raises Price Target

Applied Materials (NASDAQ:AMAT)
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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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