Lam Research rises after Deutsche Bank upgrades to 'buy'

ReutersSep 29, 2025 12:12 PM

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Shares of chip-making equipment firm Lam Research LRCX.O rise nearly 3.5% to about $132.7 in premarket trading, after Deutsche Bank upgrades co to "buy" from "hold"; raises PT to $150 from $100

New PT represents a 17% upside on stock's last close

Brokerage raises FY26 rev. and EPS forecast on LRCX to $22.4 bln and $5.20 respectively, exceeding Street's view

Says primary drivers of its improved outlook for Wafer fabrication equipment are more favorable memory supply-demand conditions, momentum at second-tier foundries, and an updated outlook on China

23 of 32 brokerages rate the stock "buy" or higher and nine "hold"; their median PT is $115 - according to data compiled by LSEG

As of last close, shares up about 77.7% YTD

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