Nova price target raised to $150 from $125 at Benchmark

Benchmark analyst Mark Miller raised the firm’s price target on Nova to $150 from $125 and keeps a Buy rating on the shares after having hosted virtual meetings for investors and Nova management. Following the meetings, the firm says it expects Nova’s materials and chemical metrology segments, along with AP opportunities, to drive year-over-year growth exceeding expected growth in WFE spending in 2024 and is increasing its 2024 EPS estimate to $5.53.