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Lam Research price target lowered to $100 from $110 at TD Cowen

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.

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