Cowen analyst Krish Sankar raised his price target on KLA-Tencor to $155 from $145 following Q2 results. The results were slightly above estimates and the September quarter guidance was better than expected driven by core foundry/logic demand and domestic China memory cap-ex. Sankar reiterated his Outperform rating on KLA-Tencor shares.

Stifel raised the firm's price target on KLA Corp. to $760 from $685 and keeps a Buy rating on the shares. The firm remains upbeat on the initial areas of pickup - HBM and advanced packaging - and expects to see incremental evidence of this broadening, the analyst tells investors in a semiconductor capital equipment group preview note. With utilization in advanced foundry/DRAM nodes tight and tightening and expected upward pressure on initial 2024 capex forecasts, the firm sees the stage being set for orders picking up in the second half of 2024, the analyst added.