KLA Corp. price target raised to $685 from $625 at Stifel

Stifel raised the firm’s price target on KLA Corp. to $685 from $625 and keeps a Buy rating on the shares. December-end quarter results were “solid,” but guidance for fiscal Q3 missed estimates driven by a customers’ delayed greenfield fab expansion, notes the analyst, who wouldn’t be surprised if the stock trades lower today given the stock’s recent strength. However, the firm expects the stock to “shake it off” with the company exiting a milder downturn in calendar year 2023 and in anticipation of a sustained pickup in the back half of this year en route to a stronger 2025, the analyst added.