Craig-Hallum downgrades ACM Research to Hold, cuts price target to $18

As previously reported, Craig-Hallum analyst Christian Schwab downgraded ACM Research (ACMR) to Hold from Buy with a price target of $18, down from $30. Following the recent addition of ACM Research’s operating subsidiaries to the U.S. export restriction Entity List and the increased uncertainty around the number of potential impacts to the company this could lead to, the firm is moving to the sidelines. Craig-Hallum believes an expanding valuation for shares may be limited.