Nova price target raised to $453 from $335 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Nova (NVMI) to $453 from $335 and keeps an Equal Weight rating on the shares. In-line earnings and wafer fab equipment guidance guide raises the question of “can Nova outperform WFE,” the analyst tells investors in a research note. The firm said historical precedent of management execution says yes but the firm is “not there yet.”