TD Cowen turns bullish on KLA citing AI-driven demand surge; shares rise

Shares of chipmaking equipment supplier KLA Corp KLAC.O up 1.53% at $1,450 premarket

TD Cowen upgrades to "buy" from "hold"; raises PT to $1,800 from $1,300, a 26% upside to stock's last close

Expects KLAC’s market share to rise in 2027, driven by spending shift toward leading-edge foundry and DRAM (high-speed memory chip)

BofA Global Research also lifts KLAC's PT to $1,650 from $1,450

15 of 29 brokerages rate stock "buy" or higher, 13 "hold" and 1 "sell"; median PT is $1,300 - data compiled by LSEG

As of last close, stock up 109% in the past 12 months