KLA Corp. price target lowered to $750 from $825 at Stifel

Stifel analyst Brian Chin lowered the firm’s price target on KLA Corp. (KLAC) to $750 from $825 and keeps a Buy rating on the shares. Leading semiconductor foundry TSMC (TSM) reports earnings this Thursday and its quarterly state of the union on the semiconductor industry takes on added significance given the ongoing tariff upheaval, the analyst tells investors. The firm now projects 2025 capex of $37B-$38B, which would still be up mid-20% year-over-year, but also at or below the low-end of TSM’s initial $38B-$42B forecast, which could shift the bias on industry WFE spending from up mid-single to up low-single digits year-over-year, the analyst added in a note on the semiconductor capital equipment group.