MKS

MKSI · NASDAQ

$211.14−$4.27 (−1.98%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $215.41

MKSI analyst rating

BuyConsensus of 17 analysts over the last 12 months. 88% rate it a buy.

Strong buy0
Buy15
Hold1
Underperform0
Sell1

12-month price target · 17 analysts

Average $408.11 (+93.3% upside)

Low: $272.70
Now: $211.14
High: $630.00

Upgrades and downgrades

The latest rating actions, newest first

MKSI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Sep 17, 2026	Maintains	Overweight	$439.00 → $345.00	56%
Mizuho	Aug 25, 2026	Maintains	Outperform	$360.00 → $330.00	59%
Citigroup	Aug 7, 2026	Maintains	Buy	$425.00 → $430.00	36%
JP Morgan	Aug 7, 2026	Maintains	Overweight	$365.00 → $380.00	0%
Wells Fargo	Aug 7, 2026	Maintains	Equal-Weight	$300.00 → $325.00	67%
Needham	Aug 6, 2026	Maintains	Buy	$360.00 → $390.00	59%
Cantor Fitzgerald	Aug 3, 2026	Maintains	Overweight	$600.00	77%
Citigroup	Jul 24, 2026	Maintains	Buy	$355.00 → $425.00	36%
Mizuho	Jul 9, 2026	Maintains	Outperform	$400.00 → $415.00	59%
Morgan Stanley	Jul 6, 2026	Maintains	Overweight	$374.00 → $442.00	56%

The case for and against

Updated Oct 14, 2026

Bull case

MKS is supported by a clear beat-and-raise trend, with Q2 revenue up 28% to $1.248B and adjusted EBITDA rising to $358MM, while gross margin expanded to 47.6% on stronger volumes and execution. Demand is broad-based across Semiconductor, Electronics & Packaging, and Specialty Industrial, highlighted by 44% growth in E&P to $381MM, 28% semi growth to $554MM, and AI-related chemistry and packaging strength that should extend visibility through 2027. Balance-sheet improvement and cash generation also reinforce the outlook, as free cash flow jumped to $188MM, cash rose to $611MM, debt fell to $4.023B, and net leverage improved to 3.0x, giving MKS more flexibility to compound earnings.

Bear case

MKS is facing a fragile fundamental setup despite a strong quarter, because the 28% y/y revenue increase to $1.248B and 49% EBITDA growth to $358MM were driven by cyclical semiconductor and electronics strength that may not be durable. Management itself highlights meaningful downside risks from a slowdown in global economic activity, slower WFE recovery, weaker laser and photonics demand, supply-chain constraints, and integration risk tied to acquisitions, all of which could pressure future execution. Leverage also remains elevated at 3.5x net debt to proforma TTM EBITDA, while free cash flow fell sharply to $29MM and cash declined to $569MM, limiting financial flexibility if end-market demand softens.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.