BofA raised the firm’s price target on Lam Research (LRCX) to $110 from $100 and keeps a Buy rating on the shares after the company presented “a strong argument for outperformance” at its analyst day meeting. The new target model was above the firm’s expectations, implying calendar year 2024-2028 compound annual growth rates of 12.5% for sales, 14% for Systems and 18% for pro-forma EPS, the analyst tells investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LRCX:
- Lam Research upgraded to Positive from Neutral at Susquehanna
- Buy Rating for Lam Research: Promising Growth in DRAM, Foundry/Logic, and Technological Advancements
- Lam Research unveils ALTUS Halo for molybdenum atomic layer deposition
- Lam Research price target raised to $100 from $92 at BofA
- Lam Research Corp Navigates Pandemic Challenges: Operational and Financial Risks in Focus