Lam Research price target raised to $505 from $495 at Stifel

Stifel analyst Brian Chin raised the firm’s price target on Lam Research to $505 from $495 and keeps a Hold rating on the shares following its Q3 results. Its Q3 earnings was "modestly better," but its Q4 guidance was below the firm and consensus estimates, the analyst tells investors. However, Lam sees relative strength from trailing edge and China, which should help balance out weakness in services/spares, Stifel says.