Lam Research (LRCX) PT Raised to $92 at BofA/Merrill Lynch

BofA/Merrill Lynch analyst Krish Sankar reiterated a Buy rating and boosted his price target on Lam Research (NASDAQ: LRCX) to $92.00 (from $80.00).

Sankar commented, "Given the industry strength and LRCX's strong product positioning we raise our PO on LRCX from $80 to $92 based on 17x CY15E EPS of $5.25 (multiple inline with KLAC). This is roughly 11x our peak earnings estimate for 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 $84.30 yesterday.

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