AXT Inc. price target raised to $20 from $10 at Northland

Northland raised the firm’s price target on AXT Inc. (AXTI) to $20 from $10 and keeps an Outperform rating on the shares. Presentations from several key AI Optical connectivity suppliers at the firm’s Growth Conference last week underscored continued “extremely strong” demand trends in AI Optical markets, even compared to blockbuster September quarter earnings reports, the analyst tells investors in a note on the group.