B. Riley analyst Craig Ellis upgraded Axcelis (ACLS) to Buy from Neutral with a price target of $150, up from $91. The firm expects better results for Q1 vs. consensus and Q2 guidance at consensus amid a Memory tick-up and Mature Foundry digests as China stabilizes, the analyst tells investors in a research note. The pending all-stock Veeco Instruments (VECO) merger remains a key strategic catalyst, the firm adds.
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