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Citi Sees 12.4% Upside In This Semiconductor Company, Shares Pop

Citi analyst Atif Malik raised the price target on Applied Materials Inc (NASDAQ:AMAT) to $175 from $160, implying 12.4% upside, and reiterated a…
byAnusuya Lahiri
December 1, 2021
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  • Citi analyst Atif Malik raised the price target on Applied Materials Inc (NASDAQ:AMAT) to $175 from $160, implying 12.4% upside, and reiterated a Buy. 
  • The analyst updated his model to reflect the company’s balanced end-market mix and benefits from 3D devices.
  • Applied Materials reported Q4 FY21 revenue of $6.12 billion, missing the consensus of $6.34 billion. EPS of $1.94 missed the consensus of $1.95.
  • Applied Materials sees FY22 revenue of $5.91 billion – $6.41 billion, below the consensus of $6.5 billion. It sees EPS of $1.78 – $1.92, below the consensus of $2.01.
  • Price Action: AMAT shares traded higher by 4.78% at $154.22 on the last check Wednesday.
 
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