JP Morgan Raises Estimates for Applied Materials (AMAT)

JP Morgan raised estimates for Applied Materials (NASDAQ: AMAT), citing strength in the solar equipment market. Applied Materials is reporting F3Q10 results after the markets close on Wednesday, August 18th.

JP Morgan analysts Christopher Blansett and Brian Lee said, "We expect Applied Materials to report a strong quarter when it reports results for F3Q10 (Jul) after market close on Wednesday, August 18th. In particular, we believe Applied will report upside in its Energy & Environmental Solutions (EES) segment driven by strong demand trends in its solar equipment businesses. We are raising our C2H10 estimates on these better-than-expected demand trends and now expect Applied to report at the high end of guidance for F3Q10."

Applied Materials is currently rated Overweight with a price target of $16.00.

Shares of AMAT are currently trading at $11.21.