BMO Capital Markets increased its 12-month price target on Entegris Inc. (NASDAQ: ENTG) to $148.00 from $126.00 on Wednesday and left the stock rated Outperform. The new target sits just below the highest analyst projection of $156, with shares trading at $137.05.
The firm said the upside to its valuation followed Entegris’ fourth-quarter results, which BMO described as landing at the high end of, or above, the company’s guidance across every reported metric. BMO also noted that Entegris’ guidance for the first quarter surpassed market expectations.
Market data shows that six analysts have recently increased their earnings estimates for the upcoming reporting period, reflecting a shift toward more optimistic near-term forecasts for the semiconductor materials supplier.
BMO analyst John McNulty emphasized that 2026 is expected to be a year of meaningful operating leverage for Entegris. He pointed to industry capital expenditure growth and multiple node transitions as key drivers that should allow the company to better utilize spare capacity and support efforts to reduce leverage on the balance sheet.
On that balance-sheet point, Entegris currently carries approximately $3.8 billion in total debt and reports a debt-to-equity ratio of 0.96. BMO highlighted management’s initiatives to optimize the company’s operational footprint, which the research firm said should boost efficiency going forward.
While BMO reiterated its Outperform rating, the firm also signaled that there is "upside risk" to its recently raised earnings forecast for Entegris.
In related company disclosures, Entegris reported fourth-quarter fiscal 2025 earnings per share of $0.70, above the consensus forecast of $0.66. Revenue for the quarter was $824 million, ahead of the $811.04 million analysts had anticipated. Those results contributed to the positive tone among analysts tracking the name.
KeyBanc Capital Markets has also adjusted its view, lifting its price target on Entegris to $156 from $111 while maintaining an Overweight rating. KeyBanc analyst Aleksey Yefremov said the company’s fourth-quarter update points toward a material recovery, though he characterized the initial pace of growth as modest. The firm noted that Entegris’ guidance for the first half implies roughly 4% topline growth.
Together, the recent earnings beat, upward analyst revisions, and higher price targets reflect improving sentiment around Entegris’ near-term performance and the potential for greater operating leverage as industry investments increase.