Analyst Blayne Curtis of Jefferies maintained a Buy rating on Lam Research (LRCX – Research Report), reducing the price target to $90.00.
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Blayne Curtis has given his Buy rating due to a combination of factors that highlight Lam Research’s strong market positioning and potential for growth. The company’s recent results and forward guidance have exceeded expectations, largely driven by robust performance in leading-edge foundry and the anticipated NAND upgrade cycle. These technological advancements position Lam Research to capitalize on transitions in both memory and logic sectors, despite a challenging macroeconomic environment.
Moreover, Lam Research’s strategic manufacturing presence in Malaysia provides a competitive edge in navigating tariff-related challenges. While there are concerns about potential demand fluctuations, particularly in China, the company’s strong operational metrics and strategic initiatives suggest a promising long-term outlook. Curtis remains optimistic about Lam Research’s ability to sustain growth, even as he maintains a cautious stance on the broader semiconductor capital equipment space in the near term.
In another report released today, Oppenheimer also maintained a Buy rating on the stock with a $80.00 price target.
LRCX’s price has also changed slightly for the past six months – from $72.860 to $66.730, which is a -8.41% drop .