RBC Capital Upgrades Lam Research (LRCX) to Outperform

RBC Capital analyst Mitch Steves upgraded Lam Research (NASDAQ: LRCX) from Sector Perform to Outperform with a price target of $190.00 (from $160.00).

The analyst comments "After working through our model, we think that 3Q19 will see an improvement sequentially from an EPS perspective. Consensus models are overly negative in our view (expected to be down sequentially) as Q3 should see an improving demand environment. Given this dynamic we view Semi-cap as a solid investment vehicle as numbers should improve going forward."

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 $166.06 yesterday.

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