Piper Jaffray Assumes Lam Research (LRCX) at Overweight
Get Alerts LRCX Hot Sheet
Rating Summary:
24 Buy, 13 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Piper Jaffray analyst Ruben Roy assumes coverage on Lam Research (NASDAQ: LRCX) with a Overweight rating and a price target of $80.00 (from $62.00).
Roy comments, "RCX's analyst day highlighted growing semi industry trends which will drive ongoing WFE growth and an estimated $2b addressable market expansion for LRCX. We believe that LRCX is positioning itself well to capitalize in industry inflections in mobility and IoT, allowing it to remain in a leading industry position which increasingly requires greater technological precision at advanced semiconductor nodes. LRCX likely sees improving operating leverage in its model and we tick up our FY15 estimates and our P/E multiple, raising our PT to $80 ($62 previously) leaving us OW rated."
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 $69.67 yesterday.
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