Barclays has revised its outlook on Lam Research (LRCX, Financial), reducing the stock's price target from $75 to $70. This update comes as the firm refines its models for the semiconductor and semiconductor capital equipment sectors, taking into account the ongoing trade tensions and tariffs impacting the industry, particularly ahead of the first quarter earnings release.
The analyst at Barclays has maintained an Equal Weight rating for Lam Research shares, reflecting a balanced view of the company's performance and potential risks. The decision to adjust the price target is driven by considerations of reduced target multiples, factoring in heightened risks from the Chinese market and consumer sectors. These adjustments highlight the firm's cautious stance given the current global trade environment.
