Jefferies raised the firm’s price target on KLA Corp. (KLAC) to $2,000 from $1,700 and keeps a Buy rating on the shares. The company reported modestly better than expected results, but it is hard to get excited about the stock on a relative basis as supply constraints hamper near-term upside, the analyst tells investors in a research note. Jefferies adds that it will likely take time for the positioning to improve, noting that it favors KLA’s peers LAM Research (LRCX) and Applied Materials (AMAT).
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