MKS Instruments, Inc. (NASDAQ:MKSI) received a bull note from Susquehanna this morning that gave the stock a "positive" rating along with a $123 price target. The price target is notable because MKSI shares settled at $80.75 on Tuesday, meaning the brokerage firm is betting on a 52% surge over the next year. However, such upbeat attention isn't rare for the Massachusetts-based provider of advanced manufacturing solutions.
Coming into today, all seven brokerage firms tracking the equity had "strong buy" ratings in place, and the average 12-month price target stood at $109.86. The stock was approaching the $105 area before a post-earnings pullback pushed it lower in late April, and it's now testing its 200-day moving average. It may be a good time to move in on MKSI, since its 14-day Relative Strength Index (RSI) of 28 suggests it's been oversold.
Looking at other sentiment indicators, short interest on MKS Instruments has been on the decline in recent reporting periods, down 15.6% in the last month. Still, the 1.75 million shares sold short represent three times the average daily trading price. All this comes as the company awaits a CEO change at the end of the year.