Lam Research shares surge 6.86% intraday on bullish analyst upgrades, AI-driven equipment demand, and strategic partnerships.

Lam Research Corporation (LRCX) surged 6.86% intraday amid heightened optimism driven by recent analyst upgrades and bullish commentary. The stock gained momentum following Stifel and RBC Capital’s upgraded price targets to $250 and $260, respectively, with RBC highlighting robust 2026 wafer equipment sales and memory market tailwinds. Jim Cramer’s endorsement further amplified enthusiasm, emphasizing LRCX’s pivotal role in semiconductor manufacturing and its potential amid AI-driven demand. Additionally, positive sentiment was reinforced by Artisan Value Fund’s Q3 performance, which credited LRCX’s undervaluation and strong cash flow as key contributors to returns. These factors collectively fueled investor confidence, aligning with the intraday price surge.