Wedbush raised the firm’s price target on AXT Inc. (AXTI) to $7 from $4.10 and keeps an Outperform rating on the shares ahead of Q3 results. The firm lifted its Q3 revenue assumptions to take into account AXT Inc.’s filing indicating it received export permits from the Ministry of Commerce of the People’s Republic of China to resume shipping indium phosphide substrates to certain additional customers.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AXTI: