Entegris price target raised to $164 from $136 at KeyBanc

KeyBanc raised the firm’s price target on Entegris to $164 from $136 on both a stronger earnings forecast and multiple assumption, while keeping an Overweight rating on the shares. Management largely maintained previous long-term organic growth targets, which the firm senses were impressive enough for investors to walk away encouraged by management’s confidence. Overall, KeyBanc continues to believe in a healthy earnings recovery in 2024-plus and views shares trading at 23.5-times 2024 EBITDA as attractive.