Benchmark analyst Mark Miller raised the firm’s price target on MKS Instruments to $142 from $130 and keeps a Buy rating on the shares after the company turned in upside in Q1 and guided to similar sales in Q2. MKS expects a recovery in capital equipment spend to return gradually in the second half of 2024 and a cyclical upturn in the semiconductor market driven by higher DRAM sales and a recovery in NAND capex coupled with improvements in the global economy leads the firm to see 35% year-over-year growth in 2025 non-GAAP earnings, the analyst tells investors.
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