MKS Instruments price target raised to $140 from $115 at KeyBanc

KeyBanc raised the firm’s price target on MKS Instruments to $140 from $115 and keeps an Overweight rating on the shares. MKS had a “solid” Q4 performance and guidance was better than feared, with the relatively upbeat call acknowledging current challenges while highlighting long-term opportunities, the analyst tells investors in a research note. The firm thinks the worst of the negative revisions are passed, and the next phase will be a pivot to a beat-and-raise cycle with additional EPS upside coming from deleveraging.