Needham & Company Upgrades Lam Research (LRCX) to Buy; Transformational Deal to Acquire NVLS
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Price: $332.36 -1.38%
Rating Summary:
33 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
33 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company upgraded Lam Research (NASDAQ: LRCX) from Hold to Buy with a new price target of $46.00.
Needham analyst says, "We are incrementally more positive on LRCX based on our belief that the deal will 1) improve LRCX’s financial leverage; 2) add Intel (Nasdaq: INTC) (Hold) as one of its largest customers; 3) offer many opportunities for cost savings; 4) create new opportunities in product offerings; and 5) build common platforms on 450mm. We believe the acquisition will pass all regulatory reviews and be completed by mid-CY2012. While risk associated with the transaction may limit near-term upside to LRCX share price, we believe the combined entity will be substantially stronger than the current LRCX, and therefore recommend investors buy the stock. To be fair, it will most likely be cheaper to buy Novellus (Nasdaq: NVLS) than LRCX."
For an analyst ratings summary and ratings history on Lam Research click here. For more ratings news on Lam Research click here.
Shares of Lam Research closed at $39.48 yesterday.
Needham analyst says, "We are incrementally more positive on LRCX based on our belief that the deal will 1) improve LRCX’s financial leverage; 2) add Intel (Nasdaq: INTC) (Hold) as one of its largest customers; 3) offer many opportunities for cost savings; 4) create new opportunities in product offerings; and 5) build common platforms on 450mm. We believe the acquisition will pass all regulatory reviews and be completed by mid-CY2012. While risk associated with the transaction may limit near-term upside to LRCX share price, we believe the combined entity will be substantially stronger than the current LRCX, and therefore recommend investors buy the stock. To be fair, it will most likely be cheaper to buy Novellus (Nasdaq: NVLS) than LRCX."
For an analyst ratings summary and ratings history on Lam Research click here. For more ratings news on Lam Research click here.
Shares of Lam Research closed at $39.48 yesterday.
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