Lam Research (LRCX) PT Raised to $95 at Nomura But Remains Sidelined
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Nomura Securities analyst Romit Shah bumped his price target on Lam Research (NASDAQ: LRCX) to $95.00 (from $85.00) following Q1 results but maintained a Neutral rating.
Shah commented, "am Research reported largely in line with Street and Nomura estimates, with revenues and EPS slightly stronger than expected. While we are raising our estimates and TP, decelerating revenue and EPS growth after the March period lead us to take a conservative stance on valuation. We maintain our Neutral rating and raise our TP to $95."
FY16E EPS from $6.45 to $6.99; FY17E EPS from $6.80 to $7.50
Shares of Lam Research closed at $99.72 yesterday.
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