Stifel raised the firm’s price target on KLA Corp. to $535 from $450 and keeps a Buy rating on the shares after the company reported fiscal Q4 revenue and non-GAAP earnings and gave an outlook for fiscal Q1 that came in above the firm’s and consensus estimates. As “the leader in process control,” KLA continues to benefit from higher-than-historical backlog visibility, strength in China and trailing edge, foundry/logic technology roadmap investments and sustained growth in service revenue, the analyst tells investors.
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