Citi lowered the firm’s price target on Lam Research to $990 from $1,025 and keeps a Buy rating on the shares. The analyst reduced semiconductor equipment estimates following Intel’s capex cut. Citi also de-risked $1B of wafer fab equipment contribution from the potential China high bandwidth memory ban. The firm expects the group to remain volatile through the U.S. elections.
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Read More on LRCX:
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