Morgan Stanley KLA · KLAC

Morgan Stanley Upgrades KLA to Overweight

Analyst: Shane Brett 1 min read Reproduced verbatim
Rating
Overweight
Upgraded
Target
$1,694
from $1,214 (+40%)
Outcome
Reached
on April 9, 2026
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What the analyst said

Morgan Stanley analyst Shane Brett upgraded KLA Corporation (NASDAQ: KLAC) from Equalweight to Overweight with a price target of $1,694.00 (from $1,214.00).

“Revise up 26/27 EPS estimates by 7%/14%, upgrade to OW. We model 2026–27 y/ y revenue growth of 16%/19%, versus the Street at 10%/9%, and our CY2027 EPS forecast is now 16% above consensus.

We see 2 strong years of EPS acceleration (17%/24%).

Our estimate revisions are skewed toward foundry logic, where we raise 2026/27 estimates by 10%/18%, compared with memory, where our estimates increase by 4%/10%.

We also raise our target multiple to 33x from 27x, which, applied to our new CY27 EPS estimate of $51.41, results in a price target of $1,697 (18% upside).

Multiple reflects a 15% premium to LAM/AMAT, a slight premium to historical average of 10% to reflect structural process control intensity growth.”

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This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

KLAC trades at $130. The 11 analysts who set a target in the last 3 months range from $180 to $275, with a median of $220. This $1,694 target is 670% above the median, the highest on the Street.

Since the note KLAC has moved −10% (from $143). 12-month window: day 294 of 365, closes on January 15, 2027.

Track record

This call✓ Target reached on April 9, 2026, 3 months after the note. Prices are split-adjusted.

Firm track recordMorgan Stanley: 82% of its 49 targets at least a year old were reached within 12 months (#8 of 26 firms). Accuracy ranking →

Morgan Stanley on KLA

Morgan Stanley price targets on KLA

8 calls from January 15, 2026 to October 6, 2026. The target went from $1,694 to $2,270 (+34%). The rating stayed Buy.

Morgan Stanley targetKLAC share price
  1. October 6, 2026Target cut from $2,530 (−10%)Buy$2,270
  2. July 29, 2026Target cut from $2,740 (−8%)Buy$2,530
  3. July 6, 2026Target raised from $1,900 (+44%)Buy$2,740
  4. June 12, 2026Kept the $1,900 targetBuy$1,900
  5. April 30, 2026Target raised from $1,809 (+5%)Buy$1,900
  6. February 25, 2026Target raised from $1,751 (+3%)Buy$1,809
  7. January 30, 2026Target raised from $1,694 (+3%)Buy$1,751
  8. January 15, 2026 This noteEarliest call shownBuy$1,694

Targets are adjusted for the 10-for-1 split on Jun 12, 2026, so every call is in the same share terms as this note.

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Other analysts on KLA

BernsteinBuy Cut price target −10%, kept rating Oct 29 $225from $250 CantorBuy Cut price target −31%, kept rating Oct 29 $225from $325 UBSHold Cut price target −5%, kept rating Oct 29 $180from $190 SusquehannaHold Cut price target −12%, kept rating Oct 29 $190from $215 JP MorganBuy Raised price target +1%, kept rating Oct 29 $240from $238
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.