Morgan Stanley analyst Joseph Moore said the intermediate outlook for capital spending in both semis and display continues to improve and ongoing improvements in memory keep equipment revenues stronger for longer than expectations.Moore raised 2018 semiconductor capex forecasts to up 1% from down 8% primarily due to memory spending, resulting in a material increase in Lam Research estimates. His FY18 earnings forecast moves up to $12.65 from $10.64 and revenues go up to $9.7B from $8.5B. Moore reiterated his Overweight on Lam Research and increased his price target to $168 from $135.