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Fly News Breaks for March 21, 2018
LRCX
Mar 21, 2018 | 07:37 EDT
BofA/Merrill analyst Vivek Arya reinstated coverage on Lam Research (LRCX) with a Buy and named it a top pick among US semiconductor capital equipment vendors. Arya said Lam is most levered to increasing memory demand with its etch capability, driven by cloud computing/AI secular growth. The analyst expects 12-14% sales/earnings growth from 2017-2020 and views valuation as compelling and established a $305 price target on Lam Research shares.
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