Craig-Hallum analyst Christian Schwab raised the firm’s price target on ACM Research to $31 from $28 and keeps a Buy rating on the shares. The firm notes ACM Research positively pre-released its full year 2023 revenue and introduced a 2024 revenue expectation ahead of expectations. Craig-Hallum believes the company continues to see strength from its core China markets for mature nodes, and still thinks ACM is well positioned for this multi-year growth momentum within the China market to continue with tailwinds from mature node semiconductors where China’s domestic demand continues to well outpace domestic supply.
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Read More on ACMR:
- ACM Research Updates 2023 Revenue Outlook and Provides Initial Outlook for 2024 Revenue
- ACM Research sees FY24 revenue $650M-$725M, consensus $669.33M
- ACM Research raises FY23 revenue view to $530M-$545M from $520M-$540M
- ACM Research to Participate in Upcoming Investor Conferences
- ACM Research management to meet virtually with Benchmark
