B.Riley Downgrades Axcelis Technologies (ACLS) to Neutral

B.Riley analyst Craig A. Ellis downgraded Axcelis Technologies (NASDAQ: ACLS) from Buy to Neutral with a price target of $50.00 (from $80.00).

The analyst comments: "We expect in-line 1Q25 results and 2Q25 guidance aided by 4Q24’s $645M backlog. Yet, on now-elevated capacity spending risk, we cut 2H25 and 2026 estimates and fear China tariff COGS risk. Reflecting a more uncertain intermediate-term view, our PT falls from $100 to $50 and rating from Buy to Neutral, and while it feels like basement window jumping versus LT value, it leaves an opportunity to become more positive when fundamentals inflect."

For an analyst ratings summary and ratings history on Axcelis Technologies click here. For more ratings news on Axcelis Technologies click here.

Shares of Axcelis Technologies closed at $44.78 yesterday.

You May Also Be Interested In