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Fly News Breaks for April 18, 2018
LRCX
Apr 18, 2018 | 07:46 EDT
Needham analyst Y. Edwin Mok kept his Buy rating and $270 price target on Lam Research after a "solid" Q3 earnings report and above-consensus FY18 outlook. Mok warns however that a lower shipments guide for Q4 could impact the stock, which is down over 5% in Wednesday's pre-market trading. The analyst believes that while he "underestimated the magnitude of a NAND moderation" which could lead to some near-term volatility, any pullback in the stock price should be considered a "long-term buying opportunity".
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