KLA Corp. resumed with a Buy at Stifel

Stifel analyst Brian Chin resumed coverage of KLA Corp. with a Buy rating and $505 price target. The industry is entering a period of capacity digestion, but he views KLA as "a relatively steadier, high quality way to be invested in a semi equipment sector" given that it is the leading supplier of inspection and metrology, or "process control," equipment. In a time of "greater uncertainty" he would expect KLA to warrant a premium, the analyst tells investors.