Stifel raised the firm’s price target on Lam Research (LRCX) to $160 from $135 and keeps a Buy rating on the shares. Fiscal Q1 results modestly exceeded the firm’s and consensus forecasts and the revenue outlook for fiscal Q2 reflects a more moderate decline than initially expected, the analyst tells investors. It is evident management is “increasingly upbeat” on its product and market momentum and really the broader AI-related tailwind to wafer fab equipment, the analyst added.
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