BMO Capital raised the firm’s price target on Entegris to $160 from $130 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company’s long-term earnings targets, higher R&D spends, and trends seen in its Materials Solutions and Microcontamination Control platforms leave BMO with renewed enthusiasm for things to come, the analyst tells investors in a research note. The analyst adds that the firm sees Entegris balance sheet deleveraging remaining on track and expecting margins to meaningfully improve from here.
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