Cantor Fitzgerald issued a rating update for KLA Corporation on January 8. The firm increased the stock's price target to $1,750 from $1,500 and kept an Overweight rating.
The firm told investors its conviction remains high despite recent outperformance. It anticipates increasing wafer fabrication equipment from 2026 to 2028 will drive solid secular growth, supporting an "All-In" stance.
Cantor added that its overweight outlook on large-cap semiconductor capital equipment names is unchanged. This shows confidence the group is in the early stages of the investment cycle.
Previously, on December 16, Cantor Fitzgerald upgraded KLA to Overweight from Neutral. It raised the price target then to $1,500 from $1,350.
At that time, the firm told investors the SOX is positioned to lead markets upward after outperforming the S&P by about 30 points in 2025. It said trends are supported by the early AI era, bolstering demand across memory, computer, networking, and equipment.
The firm further stated that while cyclical factors may lead to mixed signals, other factors support a long position in the SOX. These include anticipated exponential growth in AI infrastructure spending and the macro backdrop. It also maintains an overweight exposure to AI-related plays into 2026.
Cantor Fitzgerald's January 8 rating came the same day KLA announced it will review second-quarter fiscal year 2026 earnings. The review is scheduled for January 29 at 2 p.m. PT.