Cantor Fitzgerald Raises Price Target for KLA Corp. (KLAC)

KLA Corp. (NASDAQ:KLAC) is one of the 10 best AI chip stocks to buy according to hedge funds.

On March 30, Cantor Fitzgerald increased the price target on KLA Corp. (NASDAQ:KLAC) from $1,850 to $2,000. The firm maintained an Overweight rating on the stock, which now yields an adjusted upside potential of almost 32% at the prevailing level.

The firm attributed this adjustment to certain favorable trends within the industry. According to Cantor Fitzgerald, this marks the beginning of a multi-year secular upturn within the Semi Equipment industry.

On March 13, Blayne Curtis from Jefferies reduced the price target on KLA Corp. (NASDAQ:KLAC) from $1,850 to $1,700. The analyst reaffirmed his Buy rating on the stock, which still offers potential upside in excess of 12% despite the downward revision.

Curtis retains a positive sentiment towards the company’s near-term prospects. He also reflected upon a higher level of capital intensity and market share expected by 2030. This would result in company revenues reaching $26 billion, along with earnings per share of $84.

KLA Corp. (NASDAQ:KLAC) engineers and markets process control and yield management systems for the semiconductor and electronics industry around the world. To help chipmakers make their processes efficient the company provides a wide range of wafer inspection tools, metrology equipment, and specialized software. It also offers etch, deposition, and direct imaging technologies.

While we acknowledge the risk and potential of KLAC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than KLAC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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