J.P. Morgan analyst Harlan Sur has maintained their bullish stance on LRCX stock, giving a Buy rating today.
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Harlan Sur has given his Buy rating due to a combination of factors that position Lam Research favorably in the semiconductor equipment market. The company’s strategic initiatives to expand its served addressable markets (SAM) and gain market share in its core etch and deposition businesses are expected to drive growth. Lam’s leadership in emerging technologies, such as 3D NAND and EUV patterning, further strengthens its competitive edge, while new innovations in etch and atomic layer deposition technologies promise to extend this leadership.
Moreover, Lam’s financial targets for 2028, which include significant revenue growth and earnings power, are underpinned by robust market dynamics and strategic execution. The company’s focus on shareholder returns through dividends and share repurchases, coupled with its potential to outpace the broader wafer fab equipment market, supports a positive outlook. These elements collectively contribute to the expectation of strong revenue and earnings performance, which informs Sur’s Buy recommendation on Lam Research’s stock.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $105.00 price target.