Wedbush raised the firm’s price target on AXT Inc. (AXTI) to $7 from $4.10 and keeps an Outperform rating on the shares ahead of Q3 results. The firm lifted its Q3 revenue assumptions to take into account AXT Inc.’s filing indicating it received export permits from the Ministry of Commerce of the People’s Republic of China to resume shipping indium phosphide substrates to certain additional customers.
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