Lam Research initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Lam Research (LRCX) with an Outperform rating and $260 price target While SemiCap valuations seem to be discounting the positives “to an extent,” the firm sees further upward bias to WFE in the next two years, the analyst tells investors. The firm also cites a NAND spending recovery and CoWoS/HBM strength.

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