In a report released today, Krish Sankar from TD Cowen maintained a Buy rating on Lam Research, with a price target of $170.00.
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Krish Sankar has given his Buy rating due to a combination of factors that highlight Lam Research’s strong market position and growth potential. The company recently exceeded expectations in the September quarter, driven by robust demand from China, and provided a positive outlook for the December quarter despite regulatory challenges impacting sales. Sankar notes that Lam Research is well-positioned to capitalize on the anticipated growth in the wafer fabrication equipment (WFE) market, particularly in the latter half of 2026 and into 2027, as NAND upgrades and high-bandwidth memory (HBM) momentum continue.
Lam Research’s strategic partnerships and technological advancements also contribute to its favorable outlook. The company has secured key wins, such as an atomic layer deposition (ALD) contract from a NAND customer and advancements in dry resist technology for extreme ultraviolet (EUV) lithography. Despite some challenges, including declining sales concentration in China and tariff uncertainties, these factors are expected to support Lam Research’s growth trajectory, making it a compelling investment opportunity according to Sankar.
According to TipRanks, Sankar is a top 100 analyst with an average return of 29.4% and a 66.15% success rate. Sankar covers the Technology sector, focusing on stocks such as Apple, Micron, and Applied Materials.
In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $170.00 price target.