Susquehanna analyst Mehdi Hosseini upgraded Lam Research to Positive from Neutral with a price target of $400, up from $220. Despite the stock's 115% rally in 2019, Lam's risk/reward profile is attractive given its higher earnings power and continued share count reduction, Hosseini tells investors in a research note. The analyst, who notes Lam's December quarter results exceeded expectations, has conviction in annual wafer fab equipment growth of 10%-15% through 2021. The key catalyst for the stock is the upcoming analyst day on March 3, says Hosseini, who expects Lam to raise its 2021 earnings per share target to $30 versus the prior target of $23-$25.

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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