Axcelis price target lowered to $100 from $125 at DA Davidson

DA Davidson analyst Thomas Diffely lowered the firm’s price target on Axcelis (ACLS) to $100 from $125 and keeps a Buy rating on the shares. The Q1 outlook fell well below Wall Street expectations, and is putting meaningful pressure on the stock today, the analyst tells investors in a research note. The firm noted that an industry digestion across the company’s all important mainstream markets looks to keep activity fairly muted for the next few quarters, and that plus a projected increase in operating expenses means 2025 estimates are poised to fall “significantly.”