KLA Corp. price target raised to $700 from $570 at Citi

Citi analyst Atif Malik raised the firm’s price target on KLA Corp. (KLAC) to $700 from $570 and keeps a Buy rating on the shares. The company reported a 4% earnings beat on the December quarter but guided March quarter earnings10% below the Street, the analyst tells investors in a research note. The firm expects the group and KLA to “grind higher” on continued multiple expansion and an improving 2025 wafer fab equipment outlook. That said, Citi prefers Lam Research (LRCX), its number one pick, on better top line growth due to favorable memory mix.