KLA Corp. price target raised to $1,400 from $1,000 at Argus

Argus raised the firm’s price target on KLA Corp. (KLAC) to $1,400 from $1,000 and keeps a Buy rating on the shares after its Q1 earnings beat. Demand continues to build for KLA’s industry-leading solutions for process control and metrology, with wafer inspection tools outpacing overall industry revenue trends, the analyst tells investors in a research note. The company also believes it is positioned to outperform peers in coming years, given that inspection tools have historically outperformed wafer fabrication tools, the firm added.