Deutsche Bank analyst Sidney Ho lowered the firm’s price target on MKS Instruments to $100 from $110 and keeps a Buy rating on the shares ahead of the Q1 results. The analyst is more selective on U.S. semiconductor capital equipment names "as demand weakens." Incremental data points over the past few months suggest downside to wafer fab equipment spending and further utilization cuts, the analyst tells investors in a research note. As such, while the firm expects Q1 results to be generally in line with guidance, it believes companies will likely guide cautiously for Q2 and the remainder of this year. Its preferred names are MMKS Instruments and Entegris.
Published first on TheFly
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