-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We lift our price target by $34 to $314, 30x our FY 28 (Jun.) EPS view, above LRCX's three-year average (~20x) on AI tailwinds and growing NAND demand. We raise our FY 26 EPS view by $0.43 to $5.72, raise FY 27's by $1.25 to $8.08, and lift FY 28's by $2.08 to $10.45. The outlook for NAND is improving, partly due to its growing importance in the AI ecosystem, especially when integrated with NVIDIA's latest computing architectures, as AI inference increasingly requires more dynamic storage. In response, LRCX accelerated its forecast for $40B of customer NAND equipment spending to "before YE 27" from "over the next several years," a material change that we think brings sizeable upside to FY 27 and FY 28 forecasts. China exposure remains elevated (34% of Mar-Q sales), making results vulnerable to tightening export controls (such as those proposed by the MATCH Act) along with self-sufficiency initiatives, but we think LRCX's trailing-edge China exposure should remain relatively safe while global leading-edge/AI demand remains the larger investment story.