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Fly News Breaks for February 28, 2020
KLAC
Feb 28, 2020 | 07:24 EDT
Morgan Stanley analyst Joseph Moore initiated coverage of KLA-Tencor with an Equal Weight rating and $160 price target. The substantial run up in the stock over the last 12 months has the shares trading slightly above historical peak EV/sales, even after the recent selloff, noted Moore, who thinks it is hard to make a case for further large upside for the stock. Moore continues to prefer memory stocks over equipment stocks at current valuation levels, he added, although he is "impressed" with KLA-Tencor's overall business.
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