Wolfe Research Raises KLA Price Target to $2,000

Wolfe Research analyst Chris Caso raised the price target on KLA Corporation (NASDAQ: KLAC) to $2,000.00 (from $1,800.00) while maintaining an Outperform rating.

“Updated CY26 / CY27 guidance at Investor Day.

KLAC increased its CY26 outlook at its recent Investor Day [link], guiding for high-teens % revenue growth, which implies revenue of ~$15bn vs consensus $14.6bn.

The company expects q/q growth throughout the year with significant 2H26 growth vs 1H26. For CY27, KLAC expects its revenue growth rate to be similar to or above CY26.

The company also updated its CY26 WFE outlook slightly higher, now expecting $135-140bn vs. $135bn its prior expectation, and in line with LRCX’s WFE estimate.

KLAC’s revised CY26 guidance implies ~20% y/y PC systems revenue growth, similar to AMAT’s 20% + CY26 systems growth forecast.”

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