Lam Research (LRCX) PT Raised to $1,050 at TD Cowen

TD Cowen analyst Krish Sankar raised the price target on Lam Research (NASDAQ: LRCX) to $1,050.00 (from $1,000.00) while maintaining a Buy rating.

The analyst commented, "LRCX's top line results and outlook remain stable as better NT foundry/logic spend is balancing slightly mixed memory trends. NAND WFE recovery still a CY25 event though opportunities in HBM and adv packaging aid C2H growth. NT domestic China capex could be lumpy but CY25 prospects also appear intact. Revised CY24 CSBG view for modest growth a positive. Net-net, stock is still a Buy."

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