Needham & Company Boosts PT on Lam Research (LRCX) to $115 Following KLA-Tencor Merger Termination
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The firm commented today,
We reiterate our Buy on LRCX and raise our PT from $105 to $115, after it and KLAC terminated the proposed merger after trying to win regulatory approval for almost 12 months, citing a block from the DOJ. With the 3rd delay of the transaction announced in August, investors are increasingly concerned that the deal would break, and as a result, the stock is up this morning. We see the news to be ultimately positive for LRCX as management can now focus its effort on its growth strategies. With strengthened industry demand and technologies inflections (3D NAND, multi-patterning, FinFET, & WLP) driving increased demand for LRCX's etch/deposition equipment, we see a strong 2017 ahead and expect the stock to continue to grind higher.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesNeedham & Company, Definitive Agreement
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