Mehdi Hosseini of Susquehanna Financial has a Neutral rating and a $42 price target
Says big question is what $AMZT will say about 2020 earnings outlook when it holds its analyst day meeting in New York on September 27th.
“All in all, AMAT’s execution and delivery post failed TEL [Tokyo Electron] merger has been exceptional,” writes Hosseini, “which is reflected in the current earning run rate of ~$4.0 (up ~ 3x since ’15). The key question looking forward is what will be the earning power in ’20.”
“AMAT’s annualized earning power (in ’17) is now tracking close to $4.00, which is a few years ahead of target and makes us wonder what will AMAT guide to for ’20 when it holds its annual Analyst Day.”