B. Riley raised the firm’s price target on Lam Research (LRCX) to $95 from $90 and keeps a Buy rating on the shares. The company’s fiscal Q3 results and Q4 guidance were well above consensus estimates, the analyst tells investors in a research note. The firm says leading edge foundry was stronger than expected, and NAND tool upgrades persisting.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LRCX:
- Lam Research price target lowered to $95 from $110 at JPMorgan
- Lam Research: Strong Market Positioning and Growth Potential Amid Technological Advancements and Strategic Initiatives
- Lam Research price target lowered to $90 from $100 at Raymond James
- Lam Research price target lowered to $100 from $110 at TD Cowen
- Lam Research: Strong Q1 Performance and Optimistic Outlook Justify Buy Rating Despite Anticipated H2 Challenges