科磊订单加速与HBM/先进制程需求共振 小摩上看目标价1485美元

Core Viewpoint - Morgan Stanley maintains an "Overweight" rating on KLA Corporation (KLAC.US) with a target price of $1485, citing improved order books and expected revenue growth in the first half of 2026 [1] Group 1: Orders and Revenue Growth - The order book for KLA has been continuously improving since the earnings report, with a notable acceleration in orders, particularly in the DRAM and HBM sectors [1] - Revenue is projected to achieve low to mid-single-digit growth in the first half of 2026, an upgrade from previous expectations of flat to slight growth [1] Group 2: Delivery Times - The delivery times for tools have been extended, indicating increased demand and potential supply chain challenges [1]