KLA Corp. price target raised to $760 from $750 at Wells Fargo

Wells Fargo raised the firm’s price target on KLA Corp. to $760 from $750 and keeps an Overweight rating on the shares. KLA announced the exit of its FPD business. While this will result in negative gross margin percentage and EPS impacts in Q1 2024, the firm views no change to the KLA story and its long-term positive thesis remains unchanged.