KLA Corporation (KLAC) PT Raised to $349 at Morgan Stanley Ahead of Earnings

Morgan Stanley analyst Joseph Moore raised the price target on KLA Corporation (NASDAQ: KLAC) to $349.00 (from $286.00) expecting a material beat and raise quarter as foundry and memory spending remain robust.

The analyst reiterated an Equalweight rating, stating "Following a strong print from peer LRCX last week, we are raising estimates to reflect the strong spending environment (see - LRCX earnings - strong backdrop as expected but with strong operating margins and services). While the near-term strength is well understood, Lam's comments that 2H spending would be up across all segments was surprising to us even though their full-year guidance of +$75bn was in-line".

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