KLA Corp. price target raised to $460 from $335 at Needham

Needham analyst N. Quinn Bolton raised the firm’s price target on KLA Corp. to $460 from $335 and keeps a Buy rating on the shares after its Q2 earnings beat. The company is set to outperform the sector in 2023 as it has more exposure to foundry/logic, is less impacted from China regulations, and has partial ties to the EUV dynamics, the analyst tells investors in a research note. Needham remains positive on the potential for KLA to deliver strong share price performance despite the market sentiment around WFE cycle.