Stifel raised its price target on MKS Instruments (NASDAQ: MKSI) to $90.00 (from $81.00) while maintaining a Buy rating following solid Q1 results.

Analyst Patrick Ho said the call reinforced their view that he company is positioned to outperform not only in 2017 but also over the next few years.

Ho said, "The company benefiting from the near-term strength in its core semi business and its favorable position in areas like etch and deposition and its forays into regions like Korea and China are also paying dividends."

Longer term, the analyst is favorably biased on the Newport acquisition as the accretion opportunity and new product development will likely drive further growth.