Needham & Company Upgrades Entegris Inc (ENTG) to Buy

Needham & Company upgraded Entegris Inc (NASDAQ: ENTG) from Hold to Buy with a price target of $25.00.

Analyst Y. Edwin Mok commented, "We are upgrading ENTG from a Hold to a Buy with a Price Target of $25, reflecting our increased confidence of growth and margin expansion in the coming quarters. With improved semi demand, new leading-edge fab capacities going into production, and several company-specific programs starting to ramp up, we believe ENTG will continue to outperform the long-term target growth rate of 4-5%. We expect margins to expand driven by mix, reduced overhead absorption, and leverage, which will enable the stock to close its valuation discount to its peers. We believe ENTG offers investors greater relative value to participate in the growth of the Fab Materials space on top of next week's Analyst Event being a near-term catalyst."

For an analyst ratings summary and ratings history on Entegris Inc click here. For more ratings news on Entegris Inc click here.

Shares of Entegris Inc closed at $21.35 yesterday.

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