TD Cowen analyst Krish Sankar raised the firm’s price target on Lam Research (LRCX) to $170 from $145 and keeps a Buy rating on the shares. The firm said China F/L demand led to a September quarter beat. More importantly, December quarter guide came in better than expectations despite a $200M hit on China sales due to the BIS affiliate rule.
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Read More on LRCX:
- Lam Research price target raised to $180 from $175 at B. Riley
- Lam Research price target raised to $200 from $120 at Oppenheimer
- Lam Research price target raised to $160 from $135 at Stifel
- Positive Outlook for Lam Research Driven by Strong Market Share Gains and Conservative Earnings Guidance
- Lam Research’s Strong Growth Prospects and Resilience Amidst Challenges Support Buy Rating