LRCX is trading 2.45% up at $388.39 following a significant price target increase from Bank of America and a broader rebound in semiconductor stocks.
- Bank of America raised its price target for the stock to $480 from $330, citing robust demand for AI-related equipment and infrastructure spending.
- The stock is bouncing back after a 5.66% decline in the previous session, supported by improving tech sentiment and active trading volume.
- Analyst optimism remains a primary catalyst as investors refocus on the long-term growth potential of the semiconductor sector's AI exposure.