KLA Corp. price target lowered to $703 from $746 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on KLA Corp. (KLAC) to $703 from $746 and keeps an Equal Weight rating on the shares. Following record Wafer Fab Equipment growth in 2024, lead by DRAM and China, the firm forecasts 2025 to be “a transition year” and projects the WFE market to decline 6% year-over-year as the industry digests capacity from 2024, the analyst tells investors.