Lam Research (LRCX): Raising PT On Higher Multiple - Stifel

Stifel analyst, Patrick Ho, reiterated his Buy rating on shares of Lam Research (NASDAQ: LRCX) and raised his PT on overall industry strength and a higher multiple. He still sees a modest first half weighting for WFE spending in 2017 but there is potential upside to DRAM and
foundry spending, which could smooth out some of the first half bias.

The new PT of $150 is up from $125 on a 15x multiple, up from the 13x prior.

For an analyst ratings summary and ratings history on Lam Research click here. For more ratings news on Lam Research click here.

Shares of Lam Research closed at $127.47 yesterday.

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