ACM Research price target raised to $50 from $40 at Roth Capital

Roth Capital raised the firm’s price target on ACM Research (ACMR) to $50 from $40 and keeps a Buy rating on the shares. ACM Research released its annual backlog update indicating strong year over year growth, and Roth is encouraged by continued demand momentum indicating continued healthy China semiconductor manufacturing demand, the analyst tells investors in a research note. The firm says it is increasingly comfortable with its forecast of mid- to high-teens y/y revenue growth in the next few quarters.