Piper Jaffray Downgrades KLA-Tencor (KLAC) to Neutral Amid Takeover

Piper Jaffray downgraded KLA-Tencor (NASDAQ: KLAC) from Overweight to Neutral with a price target of $67.00 (from $63.00) after the company agreed to be acquired by LRCX for $10.6B in cash and stock.

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 $63.98 yesterday.

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