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How Will Lam Research (LRCX) Stock React to Nomura Downgrade?

NEW YORK (TheStreet) -- Lam Research's (LRCX) stock rating was cut to "neutral" from "buy" at Nomura on Thursday. The firm also lowered its price target on shares to $85 from $95.

The downgrade comes after Lam Research and KLA-Tencor (KLAC) said yesterday that it could take longer than expected for the companies to receive approval for their planned merger.

"We have been positive on the shares of Lam Research in large part because of the acquisition of KLA-Tencor, which...