UPDATE: Deutsche Bank Reiterates On Lam Research On Multiple Positive Factors

In a report published Monday, Deutsche Bank analyst Sidney Ho reiterated a Buy rating on Lam Research Corporation (NASDAQ: LRCX), and raised the price target from $81.00 to $95.00.

In the report, Deutsche Bank noted, “LRCX is well positioned to gain share in the wafer fab equipment (WFE) market, driven by a strong focus on technology inflection spending over the next few years. We expect LRCX to continue to outgrow the WFE market in 2015/16. Combined with an increased emphasis on shareholder returns, we expect valuation multiples to improve. Trading at 14x ex-cash vs. a sector average of 17x, LRCX is attractively valued and is the cheapest among frontend equipment peers.”

Lam Research closed on Friday at $84.30.