Cantor Fitzgerald Lowers KLA Price Target to $225

Cantor Fitzgerald analyst C.J.

Muse lowered the price target on KLA Corporation (NASDAQ: KLAC) to $225 (from $325) while maintaining an Overweight rating.

“Amidst supply chain worries post Lam’s report, KLA offered a beat and raise that we believe is good enough.

At a high level, KLA achieved its goal of meeting accelerated demand in 2HCY26, highlighted by extended lead times (avg 12mos, Gen 4/5 much longer) that reflect sustained under-shipment of KLA products and improved visibility.

In turn, KLA raised its outlook for CY27 WFE to $200B+ (prior $190B+).

Moreover, customer conversations now extend multiple years, providing confidence in multi-year growth ahead.

Specific to KLA and helped by continued strength in leading-edge F/L tied to AI infrastructure investments and increasing process control intensity across L/E and AP, KLA outlined a vision for the company to outperform WFE in CY27 (i.e., better than 32% growth in CY27, based on our estimates).

We agree, as we now model revenues accelerating to faster Y/Y growth in CY27 vs.

CY26, helped by TSMC pulling in A14, greater breadth of spending from Intel/Terafab/Samsung, and continued strength led by greenfield DRAM and HBM.”

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.