Applied Materials +3% on Susquehanna upgrade

|About: Applied Materials, Inc. (AMAT)|By:, SA News Editor

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.

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