Entegris price target raised to $135 from $120 at CL King

CL King raised the firm’s price target on Entegris to $135 from $120 and keeps a Buy rating on the shares. The stock, which is the firm’s Best Idea for 2023, is up roughly 80% year-to-date through December 15, with half of the share price increase taking place over the past six weeks, reflecting growing investor confidence in a semiconductor cyclical upturn, the analyst tells investors in a research note. The long-term growth prospects for the semiconductor industry remain intact and the industry is entering a period of unprecedented technology change and device complexity, the firm adds.