KLA Corp. price target raised to $760 from $685 at Stifel

Stifel raised the firm’s price target on KLA Corp. to $760 from $685 and keeps a Buy rating on the shares. The firm remains upbeat on the initial areas of pickup – HBM and advanced packaging – and expects to see incremental evidence of this broadening, the analyst tells investors in a semiconductor capital equipment group preview note. With utilization in advanced foundry/DRAM nodes tight and tightening and expected upward pressure on initial 2024 capex forecasts, the firm sees the stage being set for orders picking up in the second half of 2024, the analyst added.