Citi raised the firm’s price target on Lam Research (LRCX) to $265 from $190 and keeps a Buy rating on the shares ahead of the December quarter results on January 28. Lam is in a “Phase 2 upcycle” with 2026 wafer fab equipment speaking tracking towards Citi’s bull case of $126B, the analyst tells investors in a research note. The firm sees further upside in the shares.
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