Citi Lifts KLA Corporation Price Target to $1,800 After Q2 EPS $8.85
Citi lifted its price target on KLA Corporation from $1,450 to $1,800 and maintained a Buy rating, while RBC Capital raised its target from $1,550 to $1,600 after solid second-quarter results. KLA reported non-GAAP net income of $1.17 billion ($8.85 EPS) on $3.30 billion revenue and guided Q3 revenue of $3.35 billion ± $150 million with EPS of $9.08 ± $0.78.
1. Analyst Upgrades
Citi lifted its price target on KLA Corporation from $1,450 to $1,800 and maintained a Buy rating, citing strength in wafer fabrication equipment spending. RBC Capital also boosted its target from $1,550 to $1,600 and reiterated a Sector Perform rating, noting solid Q2 performance.
2. Q2 Financial Results
In fiscal Q2, KLA Corporation reported non-GAAP net income of $1.17 billion, or $8.85 per diluted share, on revenue of $3.30 billion, above the midpoint of its $3.225 billion guidance range.
3. Q3 Guidance
For fiscal Q3, management forecasted revenue of $3.35 billion ± $150 million and non-GAAP EPS of $9.08 ± $0.78, reflecting continued demand from AI-related semiconductor investment.
4. Industry Upcycle
The company highlighted a persistent Phase 2 upcycle in wafer fab equipment, with commentary aligned to peer trends, supporting confidence in durable industry spending through 2027.