Axcelis price target raised to $140 from $100 at Needham

Needham analyst N. Quinn Bolton raised the firm’s price target on Axcelis to $140 from $100 and keeps a Buy rating on the shares after its Q4 earnings beat. The quarter "significantly" outperformed the preliminary outlook across all metrics due to the pull-in of some Q1 sales, the analyst tells investors in a research note. The firm adds that investors will likely continue buying shares on the outlook for continued growth, also stating that Axcelis remains its Top Pick in SemiCap.