NEW YORK (TheStreet) -- Applied Materials (AMAT) received a vote of confidence from analysts at Cowen Group (COWN) ahead of the upcoming release of the company's second quarter earnings results.
Analysts at the firm believe that the company will report earnings in line with consensus estimates when it reports its results tomorrow.
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Cowen reiterated its "outperform" rating with a $20 price target on the company's shares.
Applied Materials shares are down slightly in early trading on Wednesday.
TheStreet Ratings team rates APPLIED MATERIALS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLIED MATERIALS INC (AMAT) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
Highlights from the analysis by TheStreet Ratings Team goes as follows: