Loop Capital starts Axcelis at Buy, sees continued above-WFE sales growth

As reported yesterday, Loop Capital analyst Scott Graham initiated coverage of Axcelis with a Buy rating and $150 price target. The analyst cites the company’s leading position in semiconductor wafer fabrication and notes that it has generated explosive sales and earnings growth over the last five years from innovating the category and focusing on the mature process technology portion of the market where implants per wafer and implant intensities have risen. Loop Capital adds that Axcelis should continue to generate strong, well above-WFE sales growth from share gains and extensions of its Purion product line.