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Fly News Breaks for June 12, 2019
Jun 12, 2019 | 06:33 EDT
Evercore ISI analyst C.J. Muse downgraded Lam Research to In Line from Outperform and lowered his price target for the shares to $195 from $225. An estimate reset in the second half of 2019, combined with a pushout of a memory recovery to the second half of 2020 from the first half, creates headwinds that will make it difficult for the shares to move higher over the near-term, Muse tells investors in a research note. As a result, the analyst expects to get a better buying opportunity into Lam shares at a later date.
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