ACLS - Why Axcelis Technologies Is Poised For Superior Growth: BofA Initiates With Buy Rating | Benzinga
BofA Securities analyst Duksan Jang initiated coverage on the shares of Axcelis Technologies, Inc. (NASDAQ: ACLS) with a Buy rating and a price target of $225.
The analyst believes that the Street is underappreciating exposure to some of the fastest growing semis end markets, share gains in a rising $3 billion TAM and superior growth prospects over semi cap peers.
ACLS is a key beneficiary of emerging trailing-edge auto/industrial applications, and the analyst believes it has the potential to expand its share to 35% by CY25E, up from 28% in CY22.
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