Evercore ISI Initiates Reddit (RDDT) Coverage with $320 Price Target, 30% Upside
Written by Emily J. Thompson, Senior Investment Analyst
Source: CNBC
- Reddit Coverage Initiation: Evercore ISI initiates coverage of Reddit (RDDT) with an Outperform rating and a $320 price target, indicating a 30% upside, reflecting strong confidence in its projected EBITDA of $1.8 billion.
- Mastercard Upgrade: Compass Point upgrades Mastercard (MA) from Neutral to Buy with a price target of $735, suggesting that the stock has further room to run, benefiting from ongoing consumer spending growth.
- KLAC Upgrade: TD Cowen upgrades KLAC from Hold to Buy, highlighting its market share gains in the semiconductor capital equipment sector, which is expected to benefit from leading-edge Foundry WFE spending.
- Micron Price Target Increase: Bank of America reiterates its Buy rating on Micron (MU) and raises its price target from $300 to $400, reflecting optimism regarding its robust pricing environment.
Analyst Views on KLAC
Wall Street analysts forecast KLAC stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for KLAC is 1322 USD with a low forecast of 1135 USD and a high forecast of 1485 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
18 Analyst Rating
10 Buy
8 Hold
0 Sell
Moderate Buy
Current: 1544.960
Low
1135
Averages
1322
High
1485
Current: 1544.960
Low
1135
Averages
1322
High
1485
About KLAC
KLA Corporation is a supplier of process control and yield management solutions and services for the semiconductor and related electronics industries. The Company offers a portfolio of inspection and metrology products, and related services, software and other offerings, supports research and development (R&D) and manufacturing of integrated circuits (ICs), wafers and reticles. Its segments include Semiconductor Process Control, Specialty Semiconductor Process, and PCB and Component Inspection. Semiconductor Process Control segment provides comprehensive portfolio of inspection, metrology and software products, as well as related services, helping IC, wafer, reticle/mask and chemical/materials manufacturers achieve target yields throughout the entire fabrication process, from R&D to final volume production. The Specialty Semiconductor Process segment develops and sells advanced vacuum deposition and etch process tools, which are used by a range of specialty semiconductor customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
