Morgan Stanley raised the firm’s price target on MKS Inc. (MKSI) to $374 from $354 and keeps an Overweight rating on the shares. Morgan Stanley replaced Applied Materials (AMAT), a stock it downgraded this morning, with MKS as its top pick in wafter fab equipment. The wafer fab equipment cycle “has longevity,” with memory clean room availability constraining near-term upside while extending the medium-term opportunity, the analyst tells investors in a research note. Morgan Stanley believes cyclical recoveries for MKS’s semiconductor and electronics and packaging business should drive its revenue and free cash flow growth.
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- MKS Inc. price target raised to $354 from $315 at Morgan Stanley
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