KLA-Tencor (KLAC) 3 Investor Day Potential Catalysts - Cowen

Cowen analyst Krish Sankar reiterated an Outperform rating and $155.00 price target on KLA-Tencor (NASDAQ: KLAC) ahead of the company's investor day on Tuesday (9/17) on the expectation that 3 things could occur:

1. A 3-5 year long term (CY23) target model with $14.25 in earnings power (range of $13-
$15.75).

2. Deep dive into the recently acquired Orbotech segment and possible divestiture of noncore assets. We guesstimate that SPTS (acquired by Orbotech in 2014 for $371M), or parts of it, is a likely divestiture candidate.

3. Increase dividend by 20% and a new buyback authorization of $1B.

For an analyst ratings summary and ratings history on KLA-Tencor click here. For more ratings news on KLA-Tencor click here.

Shares of KLA-Tencor closed at $149.61 yesterday.

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• New Street Research Upgrades Micron Technology (MU) to Buy
• Reading (RDI) Tops Q2 EPS by 4c