KLA Corp. price target raised to $1,135 from $970 at UBS

UBS raised the firm’s price target on KLA Corp. (KLAC) to $1,135 from $970 and keeps a Neutral rating on the shares. KLA’s Q1 revenue is projected at roughly $3.2B, modestly above guidance midpoint, with Q2 expected around $3B as full-year revenue trends remain flattish, the analyst tells investors in a research note. While uncertainty persists around China WFE trends and Intel’s (INTC) capex trajectory, increased inspection adoption could boost KLA’s Intel-related revenue, and with backlog levels normalizing, new order momentum will be key, UBS argues.