- Needham raises its KLA-Tencor (NASDAQ:KLAC) price target by $5 to $135, a 1% upside on yesterday’s closing price.
- Firm says outlook suggests a stable business, which means slower near-term growth compared to peers.
- Growth drivers include EUV, new products, and China and those could drive KLA-Tencor towards a better growth trajectory entering 2H18.
- Stifel reiterates Buy rating and $139 price target (4% upside).
- Firm says that KLA-Tencor provided a more modest March quarter outlook compared to Lam Research (NASDAQ:LRCX). While KLA has improved its memory exposure, Lam still has more concentration.
- Stifel expects momentum to pick up later in the year due to seasonal strength in the foundry/logic segment.
- B. Riley ups its price target from $129 to $142 (7% upside).
- Firm says bears will likely focus on the modest guidance but that 2018’s favorable linearity refutes arguments of peak shipments.
- Source: Bloomberg First Word
- KLA-Tencor shares are up 2.2% to $115.55.
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Original article