As previously reported, Wells Fargo upgraded Lam Research (LRCX) to Overweight from Equal Weight with a price target of $250, up from $145. Although semi cap is now a consensus long and has outperformed year-to-date, the firm thinks the group can continue to work as Wells expects demand data points to suggest a further tightening of logic and memory supply / demand dynamics supportive of a WFE acceleration in 2027.
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