Needham raised the firm’s price target on Lam Research (LRCX) to $1,030 from $900 and keeps a Buy rating on the shares. The firm contends that the WFE mix will shift towards memory and lead to relative outperformance of the company’s shares in 2025 when softer China demand causes the industry growth to slow, the analyst tells investors in a research note. Needham adds that its new price target is based on its unchanged forward earnings multiple for Lam Research of 25-times, which is also in-line with that of Applied Materials (AMAT).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LRCX:
- Nvidia initiated, AMD upgraded: Wall Street’s top analyst calls
- Lam Research price target raised to $1,050 from $950 at Stifel
- Lam Research initiated with an Outperform at Evercore ISI
- Lam Research transferred with Hold rating at Deutsche Bank
- Lam Research Chairman Talwalkar sells over $857K in company shares