Argus analyst Jim Kelleher raised his price target on Lam Research to $340 and kept his Buy rating, saying the company offers "new tools for improved yields" and pointing to its "new capabilities in its product portfolio to further improve device yield at the edge of the wafer." The analyst further cites the management's view of increased industry WFE spending after a decline in 2019 and believes that the stock continues to appear attractively valued given its market share gains, renewed margin expansion, and EPS acceleration potential.
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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