Stifel Nicolaus Maintains Buy on KLA-Tencor

Stifel Nicolaus is out with its report today on KLA-Tencor KLAC, maintaining Buy. In a note to clients, Stifel Nicolaus writes, "Despite the market uncertainty, we still believe KLA-Tencor remains well positioned through these industry transitions. We maintain our Buy rating and our $59 target price, which reflects 11x our FY12 (June) pro-forma EPS of $5.20, excluding options." At the time of posting, shares of KLAC were trading pre-market at $41.30, down 0.02% from Tuesday's close.