Axcelis price target raised to $94 from $84 at B. Riley

B. Riley analyst Craig Ellis raised the firm’s price target on Axcelis (ACLS) to $94 from $84 and keeps a Neutral rating on the shares. Axcelis’ 4Q25 results and 1Q26 guidance are projected to be in-line to slightly above consensus, the analyst tells investors in a research note. China market digestion remains a material risk, though potential partial memory offsets could emerge if DRAM capacity spending accelerates, the firm says.