NEW YORK (TheStreet) -- Shares of Applied Materials Inc. (AMAT) are higher by 1.51% to $22.83 in mid-morning trading on Thursday, following a ratings upgrade to "outperform" from "neutral" at Credit Suisse.
The firm said it raised its rating on the provider of equipment manufacturing services, and software solutions to global customers in the semiconductor and related industries, based on its better than expected first half 2015 WFE, and its multiple expansion, the flyonthewall.com reports.
Credit Suisse raised its price target on Applied Materials stock to $26 from $22.
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Additionally, Applied Materials is scheduled to release its 2014 fourth quarter earnings results after the market close today, and analysts are expecting the company to post earnings per share of 27 cents, on revenue of $2.27 billion.
For the 2013 fourth quarter the company reported non-GAAP earnings of 19 cents per share, on net sales of $1.99 billion.
Separately, TheStreet Ratings team rates APPLIED MATERIALS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLIED MATERIALS INC (AMAT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."