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Fly News Breaks for January 14, 2020
ACMR
Jan 14, 2020 | 05:28 EDT
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.
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