TD Cowen lowered the firm’s price target on Lam Research (LRCX) to $100 from $110 and keeps a Buy rating on the shares. The firm said its June Q outlook beat consensus revenues by 9% driven by NAND and Foundry. Cowen thinks this is encouraging for the company, which aims to expand its market share within the Foundry segment which remains in the early stages of increasing dep./etch. intensity.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LRCX:
- Lam Research: Strong Q1 Performance and Optimistic Outlook Justify Buy Rating Despite Anticipated H2 Challenges
- Lam Research price target lowered to $70 from $78 at Deutsche Bank
- Lam Research Reports Strong Quarterly Growth
- Lam Research: Strong Market Position and Growth Potential Justify Buy Rating
- Closing Bell Movers: Robert Half down 15% after earnings miss