Susquehanna upgrades Applied Materials (NASDAQ:AMAT) from Neutral to Positive with a $60 PT.
AMAT reports earnings tomorrow with consensus estimates expecting $3.48B in revenue and $0.66 EPS.
AMAT shares are up 3.2% pre-market to $41.30.
Update with more details from the upgrade:
Analyst Mehdi Hosseini cites recent major memory contract wins with systems shippable in early 2020, which could translate to $750M to $1B in incremental revenue.
Subscribe for full text news in your inbox