Axcelis price target raised to $140 from $113 at Craig-Hallum

Craig-Hallum analyst Christian Schwab raised the firm’s price target on Axcelis to $140 from $113 and keeps a Buy rating on the shares. Axcelis reported better than expected results and 2023 guidance, and the company is seeing strength in its mature foundry/logic business, in particular for power devices and silicon carbide, the analyst tells investors in a research note.