Summary:
- Lam Research (LRCX, Financial) shares surge 4% on strong earnings and optimistic forecasts.
- Evercore upgrades price target to $99; Wells Fargo sets it at $75.
- Analysts predict an average target price of $91.17 with a significant upside potential.
Lam Research (LRCX) Outperforms Expectations
Lam Research Corp's (NASDAQ: LRCX) shares soared by 4% in premarket trading, driven by robust third-quarter earnings that surpassed market expectations. The technology giant has sparked optimism with its positive outlook, prompting Evercore to reiterate its "Outperform" rating. In response to promising technology transitions, including NAND upgrades and new equipment needs, Evercore has elevated its price target to $99. On the flip side, Wells Fargo has adjusted its target price to $75, maintaining an "Equal Weight" rating.
Wall Street Analysts' Projections
According to the price targets set by 25 analysts, the average target price for Lam Research Corp stands at $91.17, with high and low estimates of $125.00 and $70.00, respectively. This average target indicates a potential upside of 36.63% from the current stock price of $66.73. Investors seeking deeper insights can explore the Lam Research Corp (LRCX, Financial) Forecast page for more information.
The consensus recommendation from 30 brokerage firms positions Lam Research Corp (LRCX, Financial) with an average recommendation score of 2.0, classifying it under the "Outperform" category. This rating scale spans from 1 to 5, with 1 symbolizing a Strong Buy and 5 representing a Sell.
Evaluating Lam Research's GF Value
According to GuruFocus estimates, the one-year estimated GF Value for Lam Research Corp (LRCX, Financial) is $68.54. This suggests a modest upside of 2.71% from its current price of $66.73. The GF Value is derived from historical trading multiples, past business growth, and future performance projections. For more comprehensive data, visit the Lam Research Corp (LRCX) Summary page.
