ACM Research rises as brokerages raise PT

ACM Research

04/01/2023 18:48

** Semiconductor equipment maker ACM Research Inc.  ACMR.O 
rise ~2% to $9.76 as at least two brokerages raise PT 
    ** Needham raises PT for co to $12 from $10; maintains 'buy'
rating 
    ** Says co's reaffirmation for FY22 rev forecast of $356 mln
- $385 mln range, confirms no unexpected issues arising in U.S.
export restrictions 
    ** Brokerage expects robust spending from domestic Chinese
manufacturers for the co in 2023 
    ** Adds that the China-based manufacturer's $550 mln FY23
rev forecast is higher than brokerage's $400 mln est 
    ** Craig Hallum also raises co's PT to $28 from $25 
    ** YTD, stock is up ~27% 
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))