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Fly News Breaks for May 7, 2019
KLAC
May 7, 2019 | 07:13 EDT
KeyBanc analyst Weston Twigg raised his price target for KLA-Tencor to $149 from $143 after the company posted "good" Q3 results with mixed Q4 guidance. The analyst notes that product mix and its Orbotech acquisition are impacting near-term margins, but demand is expected to improve through the year, and it suggested that its prior combined target model is achievable. Twigg continues to view KLAC as very well positioned relative to peers as its logic and foundry customers build out 10/7nm capacity. He reiterates an Overweight rating on the shares.
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