Lam Research (LRCX -3.2%) shares slide after yesterday's announcement of its Novellus (NVLS...

|About: Lam Research Corporation (LRCX)|By:, SA News Editor

Lam Research (LRCX -3.2%) shares slide after yesterday's announcement of its Novellus (NVLS +21.7%) acquisition, but Needham's Ed Mok is a fan of the deal, upgrading LRCX to a Buy rating with a $46 target. He believes the combined company “will be substantially stronger" than the current Lam Research, in part by adding Intel as one of its customers.