Deutsche Bank Lifts Price Target On Lam Research To $52, Reiterates 'Buy'
Thursday, January 26, 2022 3:08 PM

Deutsche Bank boosted its price target on Lam Research Corp. (NASDAQ:LRCX)  to $52 from $45, but reiterated "Buy" rating on the wafer fabrication equipment supplier.

The bank wrote it sees positive estimate revisions and valuation multiple expansion driving further share price momentum.

Although March quarter margin guide was somewhat below its expectations, DB said it expects margins to recover sharply from the June quarter on further sequential shipments growth and market share gains.

LRCX shares, which have been trading in the 52-week range between $34.81 and $59.10, fell 2.87% to trade at $42.30 on Thursday.