Oppenheimer Reiterates Outperform, $55 PT on KLA-Tencor

Oppenheimer maintains its Outperform rating and $55 price target on KLA-Tencor

as it is confident the stock is on its next leg of an upright trajectory. Oppenheimer elaborates, "Not only has there been no change in the monster Q/Q order guidance for C4Q11, but also, our checks indicate that C1Q12 is shaping up nicely with contribution from foundry and NAND flash memory, such that the order guidance should be flat to up. We also expect that Intel may be starting to order for the 14nm node." KLAC closed at $48.51 per share on Friday.