KLA Corp. price target lowered to $1,575 from $1,635 at UBS

UBS lowered the firm’s price target on KLA Corp. (KLAC) to $1,575 from $1,635 and keeps a Neutral rating on the shares. KLA’s guidance was muted despite a sharply improving WFE outlook, reflecting its lower exposure to fast-growing memory spending and a business model with longer lead times that limits upside in strong cycles, the analyst tells investors in a research note.