Lam Research upgraded to Buy from Hold at Deutsche Bank

Deutsche Bank upgraded Lam Research (LRCX) to Buy from Hold with a price target of $150, up from $100. The firm has a more constructive view of the wafer fab equipment group citing more favorable memory supply/demand conditions and momentum at second-tier foundries. This should enable Lam to outperform its semiconductor capital peers, the analyst tells investors in a research note. Deutsche attributes the upgrade to cyclical and secular tailwinds.

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