Credit Suisse Upgrades KLA-Tencor (KLAC) to Outperform
- Wall Street falls with financials, other post-election gainers
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shortens sentence of Manning, who gave secrets to WikiLeaks
- After-Hours Stock Movers 01/17: (SHLO) Higher; (GIMO) (AFAM) (CSX) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Credit Suisse upgraded KLA-Tencor (NASDAQ: KLAC) from Neutral to Outperform with a price target of $85.00 (from $82.00), the analyst sees multiple paths to win and called it a top pick for the second half.
Analyst F. Ahmad commented, "We raise our FY17 EPS to $5.34 from $4.64, increase TP to $85 (from $82), and upgrade rating to OUTPERFORM (from Neutral). While merger with LRCX is unlikely to close in our view, we see the stock as attractive on standalone valuations. Our FY17 EPS of $5.34 is ~11% above the Street, and we see potential for multiple expansion from here, given premium OpM and 3% dividend yield (with potential for dividend increase). We continue to view AMAT/LRCX favorably, but view KLAC as the top pick for C2H16 given near term upside to estimates."
Shares of KLA-Tencor closed at $70.62 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Securities Reiterates Buy on Noble Midstream Partners LP (NBLX) - PT to $47
- FBR Capital Remains Bullish on JPMorgan (JPM) Following 4Q EPS Beat
- Morgan Stanley Upgrades TransUnion (TRU) to Overweight, Named As Top Pick
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Hot Upgrades, Upgrades
Related EntitiesCredit Suisse, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!