ACMR stock continues to attract buyers after a host of positive analyst comments over the last week.
On January 14, 2020, Craig-Hallum analyst Christian Schwab raised his price target for ACM Research to $31 from $25 given the increased topline growth expectations and the valuation of the company’s recent Chinese private equity investments. The analyst reiterates a Buy rating on the shares.
Roth Capital analyst Suji Desilva raised his price target to $32 from $22 as he is encouraged by the company’s positive preannouncement of Q4 slightly above prior expectations. More importantly, the analyst is “very encouraged” by the “solid 2020 revenue guidance reflecting strong growth and visibility for the company.” He maintains a Buy rating on the shares.
Benchmark analyst Mark Miller raised his price target on ACM Research shares to $30 from $19 after the company updated its 2019 guidance and provided its 2020 outlook. Based on the company’s view, he has raised his non-GAAP EPS forecast for 2020 to $1.34 from 94c, leading to his increased target. Miller keeps a Buy rating on ACM Research shares.
Stifel analyst Patrick Ho raised his price target for ACM Research to $30 from $22 saying preannounced modest upside to its December quarter but provided a higher than expected initial outlook for 2020. The analyst believes the upside is indicative of the “strong” wafer fab equipment recovery scenario. Further, ACM’s new products will also contribute in 2020, “which can add incrementally to its outlook,” Ho tells investors in a research note. The analyst maintains a Buy rating on the shares.
The positive analyst comments were from the presentation ACM Research did at the 22nd Annual Needham Growth Conference on January 14, 2020.