Citi analyst Atif Malik raised the firm’s price target on Lam Research (LRCX) to $120 from $113 and keeps a Buy rating on the shares. The firm also added an “upside 30-day catalyst watch” on the shares. It expects October’s Semicon West equipment show to be a positive catalyst for the wafer fab equipment group. The inference-led demand inflection from artificial intelligence will drive spending higher in all end markets, especially memory, and Lam has outsized exposure to NAND, the analyst tells investors in a research note.
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