Needham initiates Axcelis, sees "product-cycle growth story"

Needham initiates Axcelis Technologies (ACLS +3.8%) with a Buy and PT of $3.50 (an implied upside of 47.1% from yesterday's close).

Analyst Edwin Mok thinks Axcelis is well positioned to "substantially outperform the industry in 2014" after years of struggling against sector leader AMAT and trading at a discount.

"With the new line of Purion ion implanters demonstrating initial success, a renewed focus on regaining share, streamlined operations positioning the company to be profitable, and its high exposure to memory, we believe Axcelis will prove to be a product-cycle growth story in 2014 and potentially beyond," Mok concludes.

Comments (2)
  • JayXu
    , contributor
    Comments (266) | Send Message
    I knew this was coming.
    Too bad not too many ppl follow this stock.
    10 Jan 2014, 09:39 AM Reply Like
  • busterbrown
    , contributor
    Comments (208) | Send Message
    Jay, I followed this stock when it was around a dollar a couple of years ago, then I kind of lost track of it. Wow, now look at it, back on the radar it goes, I may have to start to nibble at this one. Good Luck
    12 Jan 2014, 12:53 PM Reply Like
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