In a report released today, Vivek Arya from Bank of America Securities reiterated a Buy rating on Lam Research, with a price target of $115.00.
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Vivek Arya has given his Buy rating due to a combination of factors including Lam Research’s strong performance and growth prospects. The company reported sales and earnings per share that exceeded expectations, and its outlook for the upcoming quarter is significantly higher than market predictions. The anticipated growth in the wafer fabrication equipment market, driven by increased spending in China and advancements in foundry technology and NAND upgrades, positions Lam Research to outperform its peers.
Additionally, the company’s strategic positioning in the NAND upgrade market and the introduction of new products are expected to expand its market share. Despite potential risks such as the sustainability of growth in China and challenging comparisons in the following year, Lam Research’s margin expansion and earnings leverage contribute to a positive long-term outlook. Arya has raised the price objective for the stock, reflecting confidence in the company’s growth visibility and potential for continued success.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $125.00 price target.