Axcelis price target lowered to $125 from $150 at DA Davidson

DA Davidson analyst Thomas Diffely lowered the firm’s price target on Axcelis (ACLS) to $125 from $150 but keeps a Buy rating on the shares. The company posted an in-line quarter driven by unexpected strength in the image sensor market, though its Q4 guidance and an early look into 2025 both fell well short of consensus expectations, the analyst tells investors in a research note. The primary culprits were mainstream markets that remain depressed, a slowdown in the SiC market, and growing malaise in China, the firm added.