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Fly News Breaks for April 25, 2019
LRCX
Apr 25, 2019 | 07:56 EDT
Citi analyst Atif Malik raised his price target for Lam Research to $224 from $215 following the company's "beat and raise" earnings report. The stock typically outperforms the group out of a memory downturn, Malik tells investors in a research note. He says Lam remains his top pick equipment pick with a Buy rating. While Lam continues to expect the DRAM spending correction to last through the end of the year, bit shipments in NAND in the month of February were above seasonal and market conditions are setting up for a recovery of supply/demand balance, contends Malik.
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