Axcelis price target raised to $190 from $175 at B. Riley

B. Riley analyst Craig Ellis raised the firm’s price target on Axcelis to $190 from $175 and keeps a Buy rating on the shares. The company’s updated total addressable market view suggests 4%-8% annual CY23-CY27 growth with an 11% CY25 gain for an aggregate $700M jump to $3.3B, the analyst tells investors in a research note. Axcelis’ new calendar 2027 target model includes $1.6B in sales and $11.50 in EPS, the firm says.