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KLA Corp. upgraded to Outperform from Perform at Oppenheimer

KLA Corp. upgraded to Outperform from Perform at Oppenheimer

Oppenheimer upgraded KLA Corp. (KLAC) to Outperform from Perform with a price target of $850, up from $750. The company reported better than expected fiscal Q1 results and guidance, and now is an opportune time to buy the the shares with KLA down 20% from the all-time-high, and ASML “veering sentiment to opposite extreme,” the analyst tells investors in a research note. The firm sees a favorable 6-9 month window opening as government intervention activity is closing for this year, allowing investors to refocus on strong artificial intelligence theme.

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