Deutsche Bank Reiterates Buy Rating on KLA Corporation (KLAC)

Deutsche Bank analyst Melissa Weathers reiterated a Buy rating and $950.00 price target on KLA Corporation (NASDAQ: KLAC)

The analyst comments "We expect positive momentum to continue for KLAC this earnings season both from a fundamental perspective and a stock perspective. Fundamentally, we expect continued tailwinds from early-cycle pilot lines for leading edge nodes across multiple customers to drive outperformance vs. WFE into 2025, a dynamic which we believe has yet to be fully reflected in Street estimates. From a stock perspective, while KLAC shares have outperformed on a relative basis over the last quarter on positive leading edge data points, we believe this momentum can sustain especially in light of an otherwise mixed WFE spending environment. All told, we view the current valuation as a compelling entry point to gain exposure to the Process Control segment, which we believe should consume a higher portion of WFE "wallet share" over the next 12-24 months than it has historically. With this note, we are raising our rev/EPS estimates and price target to reflect this momentum as well as rising valuations across the Semicap sector. Maintain Buy rating & P/T to $950."

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 $858.12 yesterday.

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