B. Riley analyst Craig Ellis upgraded Lam Research to Buy from Neutral with a price target of $1,100, up from $870. The analyst sees improving memory trends for the semiconductor capital equipment group. In the past month, Riley has become “much more confident” on memory’s second half of 2024 through 2026 fundamentals, and with that, Lam’s revenue ramp potential, the analyst tells investors in a research note.
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