KeyBanc upgrades MKS Instruments to Overweight with $100 target

KeyBanc analyst Steve Barger upgraded MKS Instruments to Overweight from Sector Weight with a $100 price target. The analyst says the company’s competitive position should drive growth in semiconductor and advanced packaging. Once the industry works through the current downcycle, a resumption of the long-term secular trends toward rising semiconductor demand will emerge, Barger tells investors in a research note. He believes a higher reliance on advanced packaging techniques and continued buildout of fabs to support regionalization should drive growth for MKS.