MKS Instruments (MKSI) PT Raised to $129 at Goldman Sachs
Goldman Sachs analyst Toshiya Hari raised the price target on MKS Instruments (NASDAQ: MKSI) to $129.00 (from $128.00) while maintaining a Neutral rating.
The analyst comments "MKSI traded down 6% on 2/13 likely due to a subdued earnings outlook for 1Q25 (i.e. non-GAAP EPS of $1.40 at the mid-point and 14% below FactSet consensus that stood ahead of the print). We were encouraged by management's tone with regard to the core Semiconductor business, however, as they cited a stable outlook in leading-edge Foundry/Logic and DRAM and, notably, a pick up in orders in NAND (albeit off a low base). The company, off a net leverage of 4.3x TTM EBITDA exiting 4Q24, also highlighted two recent actions (i.e. prepayment and repricing of term loan) that will reduce the annual interest burden going forward. Reflecting a weaker-than-expected outlook for the Specialty Industrial segment, we decrease our 2025-26E non-GAAP EPS estimates, on average, by 7% while we adjust our 12-month price target to $129 (up from $128 prior)."