Axcelis price target raised to $145 from $105 at DA Davidson

DA Davidson analyst Hans Chung raised the firm’s price target on Axcelis to $145 from $105 and keeps a Buy rating on the shares after its Q4 earnings beat. The analyst states that power device, particularly SiC, continues to be the major driver for the company 2023 and beyond. The firm also sees penetration into the Japanese market and advanced logic segment helping to contribute to Axcelis growth prospects in the long-term.