Morgan Stanley raised the firm’s price target on Lam Research (LRCX) to $260 from $254 and keeps an Equal Weight rating on the shares. The firm expect a “solid” June quarter beat, but “a touch below” the 9% average by which Lam has beaten Street estimates by over the past five quarters, the analyst tells investors in a preview. Still, the firm believes Lam will “continue to fire on all cylinders, driven by unprecedented DRAM pull-forwards and supply chain execution,” the analyst added.
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