Bernstein Reiterates Outperform Rating on KLA

Bernstein SocGen Group analyst Stacy Rasgon reiterated an Outperform rating and $1,835.00 price target on KLA Corporation (NASDAQ: KLAC).

“KLAC held their analyst day yesterday in New York City, with presentations by CEO Rick Wallace, CFO Bren Higgins, Semi Products President Ahmad Khan, and Services EVP Brian Lorig.

The tone was very positive, with the company laying out their vision for both near term upside as well as drivers of outperformance through 2030 including strong trends for semiconductor growth, rising process control intensity, and stronger services outlook.

The company continues to combine best-in-class execution with very strong positioning, and appears well-placed to benefit as AI-driven industry growth propels increasing complexity, stronger process control intensity, and robust opportunities in advanced packaging amid an industry-leading margin profile and powerful cash generation and return.

Raising estimates, target price to $1,835 (35x, unchanged, on revised average FY27/28 EPS of $52.47). We rate KLAC Outperform.”

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