JPMorgan analyst Harlan Sur raised his price target for Lam Research to $275 saying last night's Q3 results came in ahead of consensus estimates on strong memory shipments. Despite investor fears of peak spending in the first half of this year, the stock's setup is favorable for continued robust spending into next year, Sur tells investors in a post-earnings research note. He maintains his view that memory makers remain disciplined in adding capacity. The analyst continues to see "significant upside" from current levels in shares of Lam Research and keeps an Overweight rating on the name.
BofA analyst Vivek Arya raised the firm's price target on Lam Research to $1,000 from $970 and keeps a Buy rating on the shares. Lam "delivered a solid beat and raise" with growth expected to accelerate into the second half of the calendar year, says the firm, which adds that it is "beginning to see the green shoots of NAND recovery."
TD Cowen raised the firm's price target on Lam Research to $1,000 from $975 and keeps a Buy rating on the shares. The firm said NAND recovery is off to a good start with two consecutive quarters of 25-30% sequential growth and other vectors are also showing growth.
Susquehanna analyst Mehdi Hosseini lowered the firm's price target on Lam Research to $850 from $880 and keeps a Neutral rating on the shares. The firm said they posted a good print and guidance as its report and commentary were inline with Susquehanna's preview.
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