Entegris Inc (ENTG) PT Raised to $100 at Mizuho

Mizuho analyst John Roberts raised the price target on Entegris Inc (NASDAQ: ENTG) to $100.00 (from $98.00) while maintaining a Outperform rating.

The analyst commented: "Guided SepQ25 EPS midpt up 8% Q/Q to $0.72 vs. $0.73/$0.74 MSUSAe/Bloomberg consensus on + 1% Q/Q sales. Reported JunQ25 EPS down 1% Q/Q to $0.66 vs. $0.67/$0.64 MSUSAe/cons., and adj. EBIT down 3% Q/Q to $165M vs. $165M/$161M MSUSAe/cons in spite of +2.5% Q/Q sales. 1H25 appears to be the overall low point in the correction from fab construction slowdown & U.S. China leading edge restrictions.

We believe ENTG re-qualifying with China customers to non-U.S. manufacturing sites where possible. MSI-driven Materials Solutions holding up much better than more WFE-exposed Advanced Purity Solutions. New CEO starts Aug. 18, with extensive overlap with long-time retiring CEO. We recently provided an update (link) on Qnity, which we believe will become closest peer. ENTG CFO (+26 other firms) will participate at the Mizuho NYC Industrials & Chemicals Conference on Aug 13.

We tweak our price target to $100 from $98; maintain Outperform."

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