B. Riley analyst Craig Ellis raised the firm’s price target on Lam Research to $870 from $840 and keeps a Neutral rating on the shares. Lam reported Q2 EPS and sales solidly above consensus estimates, though Q3 guidance was mixed, with EPS better than estimates and sales in-line with estimates, the analyst tells investors in a research note. The outlook seems brighter as spending improves, the firm argues.
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