Citi Sees 12.4 Percent Upside in This Semiconductor Company

Citi Sees 12.4 Percent Upside in This Semiconductor Company
The Citi bank logo is seen at their offices in London, Britain, on March 3, 2016. (Reinhard Krause/Reuters)
Benzinga
12/3/2021
Updated:
12/3/2021

Citi analyst Atif Malik raised the price target on Applied Materials Inc. to $175 from $160, implying 12.4 percent 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. Earnings per share (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.

By Anusuya Lahiri
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