Lam Research (LRCX) Stock: $775 Price Target From Evercore

By Amit Chowdhry ● Nov 28, 2021
  • The shares of Lam Research Corporation (NASDAQ: LRCX) have received a price target of $775 from Evercore. These are the details.

The shares of Lam Research Corporation (NASDAQ: LRCX) have received a price target of $775 from Evercore. And Evercore analyst C.J. Muse added Lam Research to the “Top Picks” list and increasing the price target from $700 while assigning an “Outperform” rating on the shares.

Muse noted that it is clear that the tides are shifting after memory had been a laggard since early June. And the pricing decline expectations in memory chips into the first half of calendar 2022 are becoming less bad as the estimates are likely bottoming in the first half and green shoots are arising.

Muse said some investors may be thinking Samsung is getting aggressive in DRAM, but they are not and quite frankly cannot given supply constraints. And Muse calls this an obvious benefit for DRAM sentiment.

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