KLA Corp. price target raised to $690 from $670 at Berenberg

Berenberg raised the firm’s price target on KLA Corp. to $690 from $670 and keeps a Buy rating on the shares post the fiscal Q2 report. Like ASML and Lam, KLA expects wafer fab equipment spending to be stronger in the second half of 2024 than in the first half, the analyst tells investors in a research note. The firm says the company’s revenue growth will bottom out in the March quarter as it benefits from a complex design roadmap.