MKS Instruments (MKSI) PT Raised to $133 at Stifel; Earnings Leverage

Stifel raised its price target on MKS Instruments (NASDAQ: MKSI) to $133.00 (from $116.00) while maintaining a Buy rating.

Analyst Patrick Ho commented, "Following MKS Instruments’ 4Q17 (Dec) earnings call this morning, we came away further reinforced in our positive thesis on the name. We believe semi business trends continue to be favorable (no surprise), while we continue to be pleasantly surprised by the upside being delivered in its non-semis business, particularly those acquired from Newport. We believe the company has strengthened the business practices and have expanded market opportunities to driver better-than-expected growth in this segment. Finally, the company continues to improve its operating model leverage (which is aided by the new U.S. tax laws) and we do not believe this current target is a “final” target model."

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