KLA Corp. price target raised to $1,035 from $835 at Citi

Citi raised the firm’s price target on KLA Corp. (KLAC) to $1,035 from $835 and keeps a Buy rating on the shares. With China’s agreement to restore the rare earth magnets exports licenses for six months and the U.S. lifting the countermeasures imposed, the major downside risk of a broader ban on semiconductor equipment is off the table for now, the analyst tells investors in a research note. As a result, Citi increased estimates for the major names in the semiconductor equipment group.