Goldman Sachs analyst Toshiya Hari initiated coverage of MKS Instruments with a Neutral rating and $129 price target. While encouraged by the growth outlook for the company’s semiconductor business, underpinned by technology inflections in logic and memory, the firm sees a relatively balanced risk/reward profile for the stock at current levels. The analyst expects investors to be focused on the timing of the cyclical recovery in the industrial and automotive end markets as it pertains to the company’s specialty industrial segment and its progress on reducing debt on the balance sheet.
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