Mizuho raised the firm’s price target on Lam Research (LRCX) to $130 from $120 and keeps an Outperform rating on the shares. The firm, which sees share shifts within the WFE industry as China competition and technology transitions drive increased competition, believes the largest share shifts are happening in Sputtering/PCVD, where Applied Materials’ (AMAT) revenue share is about 47%, while Lam is less exposed at about 15%, the analyst tells investors. In light of this view, the firm downgraded Applied Materials to Neutral from Outperform.
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