KeyBanc analyst Aleksey Yefremov raised the firm’s price target on Entegris to $136 from $107 on a stronger multiple assumption, while keeping an Overweight rating on the shares. The firm believes the electronics/semiconductor cycle is showing healthy signs of a recovery with inventories falling and memory prices rising, which should benefit Entegris. KeyBanc maintains its upbeat stance and sees shares trading at 21.6-times 2024 EBITDA as attractive.
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