Goldman Raises Applied Material to Buy from Sell (AMAT)

From Tech Trader Daily:

Goldman Sachs analyst James Covello this morning upgraded his rating on the semiconductor capital equipment sector to Attractive from Neutral.

He asserted that the three rules he uses to upgrade cyclical stocks have been met:

• Trough margins.
• Management capitulation.
• Signs of life on the horizon that fundamentals are poised to improve.

“With the stocks having taken another leg down over the last several months we now feel comfortable getting aggressive on the group as investors are getting paid to wait for the order upturn that we expect in [the 2009 second half],” he writes....MORE