JPMorgan analyst Harlan Sur raised the firm’s price target on Lam Research (LRCX) to $165 from $113 and keeps an Overweight rating on the shares. The company’s September quarter beat and above-consensus outlook show continued strong spending on advanced node technologies, the analyst tells investors in a research note. The firm says the China spending environment surprised to the upside. It upped estimates post the earnings print and sees continued positive earnings revisions for Lam going forward.
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