Lam Research downgraded to Market Perform from Outperform at Bernstein

Bernstein downgraded Lam Research to Market Perform from Outperform. The analyst forecasts the wafer fab equipment market to rebound in 2024, though not back to 2022’s level. Governmental support will start to deploy and memory will also begin to recover, but only gradually as suppliers have high inventory and can ship from that, the analyst tells investors in a research note.