UPDATE: Morgan Stanley Starts KLA Corporation (KLAC) at Equalweight

(updating comment)

Morgan Stanley analyst Joseph Moore initiates coverage on KLA Corporation (NASDAQ: KLAC) with a Equalweight rating and a price target of $160.00.

The analyst comments "While we are impressed with KLAC's overall business, the substantial run up in the stock last 12 months has brought us to peak ev/sales valuation on close-to-peak wafer fab equipment. We prefer memory stocks at these levels on lower relative valuation."

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

Shares of KLA Corporation closed at $147.99 yesterday.

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