TD Cowen Upgrades KLA to Buy

TD Cowen analyst Krish Sankar upgraded KLA Corporation (NASDAQ: KLAC) from Hold to Buy with a price target of $1,800.00 (from $1,300.00).

“With attention centered on memory WFE amid rising DRAM/NAND pricing, our updated WFE work points to leading-edge foundry as the fastest-growing pocket of spend on a CY26-27 CAGR basis (20% Vs 15% for memory), lead by TSMC (& Samsung foundry based on their TSLA execution).

We are upgrading KLAC from Hold to Buy & increasing our PT to $1,800 (36x our new CY27 estimates of ~$50, vs Street’s $44).”

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