Not sure if these were posted:
Applied Materials "overweight," estimates raised
Wednesday, May 19, 2004 1:52:20 PM ET
Lehman Brothers
NEW YORK, May 19 (New Ratings) - Analyst Edward C White of Lehman Brothers maintains his "overweight" rating on Applied Materials (AMAT.NAS), while raising his estimates for the company.
In a research note published this morning, the analyst mentions that the company reported its April quarter revenues ahead of the estimates and the consensus. The healthy April quarter results reflect Applied Materials' potential to post above industry average results in the forthcoming quarters, Lehman Brothers says. The EPS estimates for FY04 and FY05 have been raised from $0.80 to $0.86 and from $1.20 to $1.25, respectively.
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Applied Materials "buy," target price reduced
Wednesday, May 19, 2004 2:07:37 PM ET
First Albany
NEW YORK, May 19 (New Ratings) - Analysts at First Albany maintain their "buy" rating on Applied Materials (AMAT.NAS), while raising their estimates for the company. The target price has been reduced from $30 to $24.
Shares of Applied Materials, an information infrastructure company and world leader in semiconductor manufacturing equipment, are currently trading at $18.85.
According to First Albany's research note published this morning, the company reported robust 2Q04 results, with EPS ahead of the consensus. Applied Materials’ q/q bookings growth outperformed the 30% guidance by 2% during the quarter. The company has projected 5-10% and 5% sequential growth in bookings and revenues, respectively, for 3Q04.
According to First Albany, the company is focusing on boosting its service revenue growth, as this would support revenues during a downturn. Applied Materials’ attempts to boost this business segment may put pressure on the company’s gross margins in the near term, the analysts say.
The EPS estimates for 3Q04, 2004 and 2005 have been raised from $0.25 to $0.26, from $0.89 to $0.93 and from $1.09 to $1.12, respectively. The P/E estimates for 2004 and 2005 are 20.3x and 16.8x, respectively.
First Albany maintains its "buy" rating on Applied Materials.
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Applied Materials "outperform," estimates raised
Wednesday, May 19, 2004 2:06:46 PM ET
Bear Stearns
NEW YORK, May 19 (New Ratings) — Analyst Michael O’Brien of Bear Stearns reiterates his "outperform" rating on Applied Materials (AMAT.NAS), while raising his estimates for the company. The target price is set to $26.
Shares of Applied Materials, a leading global semiconductor capital equipments provider, are currently trading at $18.85.
According to Bear Stearns’ research note published this morning, Applied Materials reported its 2Q FY04 earnings ahead of the guidance and the consensus. The analyst mentions that the company’s quarterly results were broadly in-line with the recently reviewed estimates. Applied Materials’ new orders increased by 32% y/y during the quarter, Bear Stearns says.
Applied Materials is likely to witness several large order gains later this year, the analyst says. The company anticipates order growth of 5%-10% for the July quarter. Bear Stearns expresses its optimism regarding Applied Materials’ re-accelerated orders growth in the October quarter and the company’s robust margins expansion in the near term.
The EPS estimates for FY04 and FY05 have been raised to $0.84 and to $1.18, respectively.
Bear Stearns reiterates its "outperform" rating on Applied Materials.
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Applied Materials initiated with "buy"
Wednesday, May 19, 2004 1:33:39 PM ET
Needham & Co
NEW YORK, May 19 (New Ratings) - Analysts at Needham & Co initiate coverage of Applied Materials (AMAT.NAS) with a "buy" rating. The target price is set to $30. |
