According to StreetInsider.com, Citi is maintaining its HOLD rating but lowering the price target from $20 to $11.
The firm notes –
“If there was a surprise here it was the magnitude of poor order guide and the capitulation that this could take a full year to sort out. More broadly, the fact that orders are simply not flowing through to revenue/EPS means that AMAT’s backlog continues to balloon (>10mnths in Q109) and backlog … Read the rest
Following last nights earnings report and news of a big supply deal, the analysts are out with their ratings this morning:
According to StreetInsider.com..
Gabelli Issues Buy rating and raised 08 estimates. “We are increasing our ’08, ’09, and ’10 EPS estimates to $4.00, $8.00, and $11.25, respectively, from $3.60, $6.50, and $10.15. 3Q EPS of $1.20 were well ahead of our expectation of $1.05, and consensus of $1.02. On the conference … Read the rest