KLA Corporation (NASDAQ:KLAC) was upgraded by Jefferies to “Buy” with a new price target of $1,500 from $1,100. The firm sees expanding AI accelerator use cases and strong demand for advanced packaging as drivers for KLAC’s growth. Jefferies also highlighted Nvidia and Broadcom as companies benefiting from AI infrastructure build out. The firm believes KLAC’s strength in process control will lead to upside as chip complexity increases. Despite concerns about China exposure, Jefferies raised their price target based on earnings projections. KLAC is a semiconductor manufacturing corporation with a focus on process control and yield management solutions for the semiconductor industry.

Read more at Yahoo Finance: Jefferies Upgrades KLA (KLAC) to Buy, Sees Run Just Beginning