Axcelis price target lowered to $134 from $175 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Axcelis to $134 from $175 and keeps a Hold rating on the shares. The company reported another quarter of solid results and continues to see strength driven by its mature foundry and logic market, the analyst tells investors in a research note. The company reiterated its $1.3B revenue model by 2025 but with estimates already fully reflecting this, Craig-Hallum struggles to see multiple expansion from here.