Morgan Stanley analyst Joseph Moore believes Lam Research's commentary that the first half of 2019 should be above the second half of 2018 should take the stock higher. While he still worries that memory conditions are worsening, he remains positive on the stock following the "better than feared" outlook offered by the company, though he lowered his price target on Lam shares to $190 from $208 . Moore maintains an Overweight rating on shares of Lam Research, which are up $9.58, or 6.6%, to $154.85 in pre-market trading.
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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