KeyBanc analyst Weston Twigg raised his price target for Lam Research to $385 from $313 after the company posted a "big beat and raise" and outlined "strong" demand for 2020. Demand is being driven by ongoing strength from foundry/logic customers, with NAND improving, he notes, adding that Lam Research continues to execute well and win new positions at the leading edge, driving compelling long-term upside potential. Twigg has an Overweight 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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