UPDATE: Bank of America Reiterates On KLA-Tencor Following Company Analyst Day

In a report published Wednesday, Bank of America analyst Krish Sankar reiterated a Buy rating on KLA-Tencor KLAC, and raised the price target from $75.00 to $86.00. In the report, Bank of America noted, “KLA is the leader in semiconductor inspection and measurement equipment. It is the only company with a comprehensive suite of tools for improving yields in a fab. As technology advances, yield problems become tougher, requiring more process control, driving inspection and measurement to grow faster than the industry. KLA benefits from this trend and, due to efficient operations and pricing power, leverages the growth with industry-leading margins to reach higher through-cycle earnings power.” KLA-Tencor closed on Tuesday at $74.09.