KLA Stock Gains As Analysts Raise Price Target Following Q4 Earnings Beat

Cowen analyst Krish Sankar raised the price target on KLA Corp KLAC to $355 from $335, implying an 11.1% upside, and reiterated a Market Perform rating.
Sankar noted its solid results and upward revisions to its process control growth goals while margin profiles remain solid.
Needham analyst N. Quinn Bolton upgraded the stock to Buy from Hold with a $390 price target, implying a 22.1% upside.
Bolton observed that the company had historically underperformed in past WFE upcycles but now will be an outperformer in the current WFE upcycle and will continue to outperform in the next WFE downcycle. The WFE mix shifts to foundry/logic, EUV proliferating to DRAM, and Intel Corp INTC returning to an annual process technology cadence disproportionately favor KLA, Bolton added.
Deutsche Bank analyst Sidney Ho raised the price target to $400 from $375, implying a 25.2% upside, and affirmed a Buy rating.
The decision follows the solid Q4 results. KLA is benefitting from strengthening demand across its key markets, Ho noted. He raised estimates on the company's improved outlook.
Price action: KLAC shares traded higher by 7.89% at $344.63 on the last check Friday.

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