- The shares of KLA Corp (NASDAQ: KLAC) have received a $490 price target from Atlantic Equities. These are the details.
The shares of KLA Corp (NASDAQ: KLAC) have received a $490 price target from Atlantic Equities. And Atlantic Equities analyst Ianjit Bhatti initiated coverage of KLA with an “Overweight” rating.
Bhatti noted that approximately 60% of leading edge logic CPUs, GPUs, and AI chips are manufactured in Taiwan where geopolitical tensions with China are creating risk, driving national governments, including the U.S. to look to onshore logic manufacturing to provide semiconductor resiliency.
As KLA is the leading vendor of tools that enable semiconductor foundries to identify defects and measure non-conformities in the manufacturing process, Bhatti believes KLA will benefit from a logic capex cycle as national governments diversify leading edge manufacturing away from Taiwan.
Bhatti is now forecasting that KLA can deliver sustained revenue growth beyond 2022 with an 11% revenue compound annual growth rate projected for FY21-FY23.
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