Goldman Sachs raises the target price of Entegris to $135, maintaining a sell rating
Ai Focus
Goldman Sachs analyst James Schneider raised the target price for Entegris from $120 to $135, but still maintained a sell rating on the stock after the company's third-quarter earnings exceeded expectations and provided guidance that was higher than market forecasts.
Goldman Sachs analyst James Schneider raised the target price of Entegris ( ENTG ) from $120 to $135, but still maintains a sell rating on the stock.
In a research report, Schneider told investors that after the company's third-quarter performance exceeded expectations and its guidance was higher than market consensus, investors were initially quite optimistic about their position building before the financial report was released. The analyst stated that the market had previously anticipated an upward cycle in capital expenditure, with strong performance in the second quarter, and that the capacity utilization rates in the fields of storage and logic chips were also improving.
However, it is also added in the same statement that the sell rating will be maintained until there are clearer and more sustainable signs of cyclical recovery in the business related to wafer factory construction.
This message was originally published on TheFly – a real-time source for breaking financial news that affects the market.
Related Reading:
- Entegris expects adjusted earnings per share to range from $1.32 to $1.40 in the fourth quarter, while market expectations are at $1.11.
- Entegris announced adjusted earnings per share of $1.23 for the third quarter, while market expectations were $1.02.
- ENTG This Week's Financial Report: Is It Worth Buying Before the Report is Released?
- Past Week and Future Week: Macroeconomics and Markets, October 25th
- Citi raises the target price of Entegris from $170 to $195
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