Soleil Securities Initiates Coverage on Lam Research (LRCX) with a Buy
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Soleil Securities initiates coverage on Lam Research (Nasdaq: LRCX) with a Buy. Price target $45.
Soleil analyst says, "Initiate coverage with a Buy. Pure-play semi equipment vendor with the best business outsourcing model...Highly flexible outsourcing based business model allows LRCX to mitigate the impact of fluctuations in production volume requirements during both upturns and downturns. We no longer see large exposure to the memory market as negative after significant spending cutbacks by memory makers in '08. We forecast resumption of spending by DRAM makers (47% of total shipments in June '08 quarter) in the next 2 quarters and capacity expansion in NAND flash (28% of shipments in last quarter) in 2H09 benefiting top line growth in F09."
Lam Research Corporation (Lam Research) is engaged in designing, manufacturing, marketing and servicing semiconductor processing equipment used in the fabrication of integrated circuits and is recognized as a provider of such equipment to the global semiconductor industry.
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