By Michael Dabaie
Applied Materials Inc. (AMAT) shares were up 1.6% to $62 in midday trading.
Nomura raised it price target on the provider of materials engineering solutions used for chips and advanced display to $75 from a prior $68 and reiterated its Buy rating.
Nomura said it thinks AMAT will benefit from a cyclical rebound in global wafer-processing equipment sales in 2020, as well as from secular trends the firm said it thinks will drive superior growth over the next few years.
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