KLA Corp. flat panel exit a positive, says JPMorgan

JPMorgan analyst Harlan Sur says KLA Corp.’s decision to exit its flat panel display business has no impact to its 2024 sales. The firm views the exit as a positive, saying there can be some reallocation of resources to KLA’s flagship process control and/or advanced packaging or specialty semiconductor initiatives. The stock continues to be one of the firm’s top picks in semi caps with an Overweight rating and $725 price target.