As previously reported, Craig-Hallum upgraded Entegris to Buy from Hold with a $150 price target. The firm notes Entegris reported solid Q4 results and guided 2024 to high-single digit organic topline growth and EPS of about $3.25. The company stated it is taking a prudent view of the industry and assuming its markets grow what Craig-Hallum believes could prove to be a conservative 4% in 2024. The firm thinks Entegris is positioned well to continue to drive above-market growth as semiconductors become increasingly complex and the company’s content per wafer to support manufacturing requirements continues to expand. With an improving business and strengthening balance sheet post the divestitures of several non-core businesses, Craig-Hallum believes the company is positioned well to drive towards its long-term targets.
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