TD Cowen Raises PT on Lam Research (LRCX), Keeps a Buy

Lam Research Corporation (NASDAQ:LRCX) has gained more than 9.7% over the past month. The growth has been driven by several analyst upgrades and overall sectoral recovery. Analysts are projecting continued growth. Lam Research Corporation (NASDAQ:LRCX) ranks as one of the Best Stocks to Buy Now for High Returns.

​Recently, on July 9, TD Cowen analyst Krish Sankar raised the firm’s price target on the stock from $340 to $400 and maintained a Buy rating on the shares. The firm noted updating its model for the company ahead of the earnings season.

​On the same day, Mizuho also raised the price target on LRCX from $380 to $400 and maintained an Outperform rating on the shares. Mizuho noted that they expect the wafer fab equipment to rise from 2027-29, driven by durable AI-driven demand. Moreover, the firm also expects ramp-ups across leading-edge logic and memory chips to continue over the said period.

​Mizuho noted it is raising price targets across the semiconductor equipment space more broadly, as AI continues to drive demand for leading-edge foundry and logic capacity as well as DRAM.

Lam Research Corporation (NASDAQ:LRCX) supplies semiconductor manufacturing equipment and services globally.

While we acknowledge the risk and potential of LRCX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LRCX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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