Lam Research Upgraded To 'Buy' Amid Anticipated Boost From Samsung's HBM Expansion
Portfolio Pulse from Priya Nigam
Shares of Lam Research Corporation (NASDAQ:LRCX) traded higher after Stifel analyst Brian Chin upgraded the company's rating from 'Hold' to 'Buy' and raised the price target from $505 to $725. The upgrade is based on the anticipated expansion of high bandwidth memory (HBM) capacity by Samsung in Q3, which is expected to benefit Lam Research due to its strong position in DRAM.
July 24, 2023 | 6:50 pm
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Lam Research's stock traded higher following an upgrade from Stifel. The company is expected to benefit from Samsung's HBM expansion due to its strong position in DRAM.
The upgrade from Stifel is based on the anticipation that Lam Research will benefit from Samsung's expansion of HBM capacity due to its strong position in DRAM. This positive news is likely to increase investor confidence in the company, potentially driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100