Entegris price target raised to $100 from $86 at Needham

Needham analyst Charles Shi raised the firm’s price target on Entegris to $100 from $86 and keeps a Buy rating on the shares. The company’s Q4 results may have fallen in line with the reduced buy-side estimates, while its management also echoed several foundries reporting earlier that Q2 of 2023 will likely mark the bottom for industry wafer starts, the analyst tells investors in a research note. The firm adds that Entegris is among the semis businesses that are late to fall but early to rise, expecting it to lead the recovery in the sector.