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AMAT multiple concern drives Street-low target

Jun. 07, 2019 9:05 AM ETApplied Materials, Inc. (AMAT) StockAMATBy: Brandy Betz, SA News Editor3 Comments
  • Nomura starts Applied Materials (NASDAQ:AMAT) at Neutral with a $40 PT, matching the Street-low target.
  • Analyst David Wong cites a lower than average multiple with the near-term uncertainty of the semi equipment business.
  • Wong says AMAT's display equipment operating margin trends lower than the semi equipment operating margin, which could end up putting pressure on overall margins.
  • Applied Material shares are up 0.8% pre-market to $41.70.
  • AMAT has a Bullish average Quant rating and a Bearish SA Authors' rating.

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