KLA Corp. price target raised to $850 from $740 at BofA

BofA analyst Vivek Arya raised the firm’s price target on KLA Corp. to $850 from $740 and keeps a Buy rating on the shares after having hosted CEO Rick Wallace, CFO Bren Higgins and IR head Kevin Kessel for “well attended” investor meetings this week. The management message was “solid on long-term compounding themes,” says the analyst, who believes the wafer fab equipment, or WFE, industry is “bouncing at the bottom,” with a potential first half trough and second half recovery led by leading edge investments. The firm, which expects KLA sales to accelerate into calendar year 25/26, raised its target on higher confidence in KLA expanding its industry leading margins in the coming upturn.