JPMorgan analyst Harlan Sur lowered the firm’s price target on Lam Research (LRCX) to $95 from $110 and keeps an Overweight rating on the shares. Lam delivered strong March quarter revenue, margins and EPS and provided June quarter guidance well above expectations, reflecting strong near-term fundamentals, the analyst tells investors. Despite the strong results and guidance, the firm is lowering its calendar year 2025 revenue and EPS estimates as it accounts for weaker second half demand driven by tariff and trade related dynamics for the overall semi and semicap industry, the analyst noted.
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Read More on LRCX:
- Lam Research: Strong Market Positioning and Growth Potential Amid Technological Advancements and Strategic Initiatives
- Lam Research price target lowered to $90 from $100 at Raymond James
- Lam Research price target lowered to $100 from $110 at TD Cowen
- 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
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