Analyst Krish Sankar from TD Cowen maintained a Buy rating on Lam Research (LRCX – Research Report) and increased the price target to $110.00 from $100.00.
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Krish Sankar has given his Buy rating due to a combination of factors including Lam Research’s better-than-expected target model and the potential for share gains in key areas such as ALD and conductor etch within DRAM and Foundry/Logic. The company forecasts a promising revenue growth trajectory, aiming for $26 billion by 2026, which is encouraging for investors.
Additionally, Lam Research anticipates mid-to-high single-digit growth in Wafer Fab Equipment spending, with a significant portion expected from memory mix, including DRAM and NAND. The company’s strategic focus on technology advancements and new product introductions, like Akara and Altus, are seen as key drivers for capturing market share in upcoming years. This positive outlook on technological and financial growth underpins the Buy rating recommendation.
In another report released yesterday, Citi also reiterated a Buy rating on the stock with a $87.00 price target.