Cowen Lifts PT on Lam Research (LRCX) to $100; Notes Strong Qtr., But WFE Run-Rate Not Sustainable

October 20, 2016 7:58 AM EDT
Get Alerts LRCX Hot Sheet
Price: $111.24 --0%

Rating Summary:
    18 Buy, 5 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 14
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Cowen & Company lifts its price target on Outperform rated Lam Research (Nasdaq: LRCX) from $95 to $100 following Q1 results and outlook issued Wednesday night.

The firm commented today: LRCX continues to execute with incredible regularity and our new #s justify $100 target. On one hand, 3D NAND still only mid-innings worst-case and memory spend biased up again in '17, but on the flipside 7nm foundry is maybe even a more interesting/controversial theme going forward (favoring KLAC) and ~$38.5-40B/yr 2H:16 WFE run-rate is not sustainable.

For an analyst ratings summary and ratings history on Lam Research click here. For more ratings news on Lam Research click here.

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