Citi comments on KLA (KLAC.US) Q1 results: raises earnings forecast but cuts price target to $275 to reflect overall market valuation decline

Zhitong Finance APP has learned that after KLA Corporation (KLAC.US) delivered a "beat-and-raise" quarter for the September quarter, Citi raised its EPS forecasts across FY2027-FY2029 as a whole, but cut its price target to $275 from $290-the reason lies not in earnings but in the multiple: the valuation basis was compressed to about 35x from 38x to reflect the downward shift in overall market multiples. The rating remains "Buy," corresponding to an expected share price return of 73.2% versus the October 28 closing price of $158.77, and a total return including dividends of 73.7%.