Citi analyst Atif Malik raised his price target for Lam Research to $330 from $282 saying recent U.S. memory supply chain discussions provide a positive early assessment of first half of 2020 demand trends. An improving memory supply/demand balance will continue to lift Lam's outlook for NAND and DRAM investments into 2020, Malik tells investors in a research note. He reiterates the stock as his top equipment pick into 2020 and keeps a Buy rating on the shares.
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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