Citi analyst Atif Malik raised the firm’s price target on Entegris to $134 from $117 and keeps a Neutral rating on the shares post the December quarter results. The firm shifted its valuation basis to 2025 from 2025 to reflect increasing confidence in a semis cycle recovery. Its Neutral rating reflects the stock’s premium valuation and alignment with its Phase 2 cyclical recovery sector framework where it prefers equipment/component makers over consumables or wafer starts driven stocks.
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