KeyBanc analyst Steve Barger reiterated a Sector Weight rating on KLA Corporation (NASDAQ: KLAC).
“KLA shares fell following its F3Q beat. We think the reaction may have stemmed from a more restrained management tone vs. elevated investor expectations with shares at inflated valuations.
While KLA acknowledged GM headwinds from DRAM and tariffs, it also raised its CY26 expectations, indicated broad-based demand is constrained basically only by cleanroom capacity, and offered a rare out-year insight, calling for CY27 growth above CY26.
Despite its objectively positive stance, we think bull-case investors wanted to see more to support share appreciation beyond today’s levels. Maintain SW.”
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Tracking this call
Firm track recordKeyBanc reached 64% of its 25 scored targets within six months (#18 of 31 firms). Accuracy ranking →
Other KLA notes
Morgan StanleyBuy
Cut price target −10%, kept rating · Oct 6
$227from $253
UBSHold
Cut price target −7%, kept rating · Sep 1
$200from $215
BernsteinBuy
Raised price target +11%, kept rating · Aug 10
$250from $225
StifelBuy
Cut price target −7%, kept rating · Jul 29
$250from $270
CantorBuy
Kept rating and price target · Jul 29
$325maintained