MKS Instruments price target lowered to $120 from $135 at Wells Fargo

Wells Fargo lowered the firm’s price target on MKS Instruments to $120 from $135 and keeps an Equal Weight rating on the shares. MKS’s results and guidance reflect a bouncing along the bottom as it now expects a flat second half vs. first half, the analyst tells investors in a research note. Following the recent debt restructuring, visibility into a demand recovery and estimate upside looking into 2025 remains the key driver of shares, Wells says.