Lam Research (LRCX) PT Raised to $705 at Mizuho Securities
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Mizuho Securities analyst Vijay Rakesh raised the price target on Lam Research (NASDAQ: LRCX) to $705.00 (from $575.00) while maintaining a Buy rating.
The analyst commented, "LRCX reported a good MarQ and guided to a solid JunQ top line of $4.0B, well above consensus $3.7B with strong equipment orders. LRCX noted strength in Foundry/Logic spending, share gains in conductor etch, and multi-stack deposition and etch wins at major Memory OEMs.
LRCX raised 2021 WFE to ~$75B, up 23%+ y/y and above prior expectations, 2H-loaded as previously noted. New greenfield foundry opportunities, with $100B capex planned over three years at TSMC and $20B at INTC, position LRCX well."
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