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Needham lowers Applied Materials target to 37% upside

May 21, 2018 9:12 AM ETApplied Materials, Inc. (AMAT) StockAMATBy: Brandy Betz, SA News Editor5 Comments
  • Needham maintains a Strong Buy rating but lowers its Applied Materials (NASDAQ:AMAT) price target from $72 to $68, a 37% upside to Friday’s close.
  • Firm says AMAT reported a strong Q2 but mixed guidance on a near-term pullback on semiconductors. Management expects the business to recover by Q4 and sees a sustainable WFE in C19. 
  • Needham recommends that long-term investors use the near-term volatility as a buying opportunity. 
  • Source: Briefing.com. 
  • Applied Materials shares are up 2.3% premarket to $50.63.       

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