TD Cowen analyst Krish Sankar maintained a Buy rating on Lam Research yesterday and set a price target of $340.00.
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Double your LRCX exposure with Tradr's LRCUKrish Sankar has given his Buy rating due to a combination of factors that support a durable growth outlook for Lam Research despite already strong recent results and elevated valuation levels. He highlights rising wafer fab equipment demand across all major end markets, above‑industry growth in Lam’s systems and services, and earnings projections for 2026–2027 that stand materially ahead of consensus, indicating room for further estimate revisions.
He also emphasizes Lam’s increasing market share in foundry, DRAM, and advanced packaging, along with significant remaining upside in NAND equipment spending as customers pursue a large, still‑incomplete upgrade cycle. In his view, improving end‑customer fundamentals and robust profitability should allow current multiples to be sustained or potentially expand, while future memory capital‑expenditure cycles, exemplified by Micron’s spending capacity, provide additional long‑term demand support for Lam’s tools.
Sankar covers the Technology sector, focusing on stocks such as KLA, Lam Research, and Western Digital. According to TipRanks, Sankar has an average return of 49.3% and a 69.02% success rate on recommended stocks.
In another report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $330.00 price target.