KLA Corp. initiated with a Neutral at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of KLA Corp. (KLAC) with a Neutral rating and $625 price target. Semi equipment stocks “performed exceedingly well in 2023,” says the analyst, who views 2024 as “a transition year” and prefers ASML (ASML) among that group in the broader semiconductor space. The firm, which notes “both headwinds and tailwinds” for KLA Corp., acknowledges the firm’s rating “may prove too conservative” if investors will look through 2024 and focus on growth potential in 2025.