Axcelis Technologies (ACLS): Raising PT After Analyst Meeting - Needham
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Needham & Company analyst, Edwin Mok, reiterated his Buy rating on Axcelis Technologies (NASDAQ: ACLS) and raised the price target to $17 from $15 after the company's analyst event.
The analyst cited 13 new Purion placements which he believes demonstrates ACLS's improved market position, which should support greater growth in 2017/18. This higher growth comes with a slight increase to operating expenses implying slightly lower income.
The analyst stated "While we do not think the annualized earnings target of $2.80/sh will come in 2017, maybe not even 2018, we believe the combination of better memory investments in 2017, market share gains and improved margins will drive meaningful earnings growth ahead".
Shares of Axcelis Technologies closed at $13.75 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- Jefferies Cuts Price Target on Boston Beer Co. (SAM) to $140 Following Weak 3Q
- PayPal (PYPL) PT Raised to $45 at Oppenheimer
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesNeedham & Company, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!