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FINWIRES

Research Alert: CFRA Maintains Buy Rating On Shares Of Kla Corporation

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our price target by $240 to $2,094, 41.5x our FY 27 (Jun.) EPS view, near peers but above KLAC's three-year average (~25x) on significant AI momentum and improved visibility. We raise our FY 26 EPS view by $0.85 to $36.96, lift FY 27's by $4.10 to $50.45, and lift FY 28's by $3.20 to $60.95. Improving customer support and visibility surprisingly allowed KLAC to comment on CY 27 growth, and its view was impressive and well above consensus for both CY 26 and CY 27 (we see +22% vs a going-in Street view of +15%). Importantly, the company also feels "very good" about its ability to procure memory supply to support builds through CY 27, by when we think new supply will help ease constraints. High memory prices also reflect AI-related demand that is driving memory makers to purchase more process control equipment, and we estimate memory customers will contribute a majority of Semi Process Control segment sales in FY 27 (vs. ~30% in FY 26), bringing supportive revenue diversification at the leading edge.

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