Needham Sees 41% Upside In ACM Research; Upgrades To Buy

Needham & Company analyst Quinn Bolton upgraded ACM Research, Inc ACMR from Hold to Buy with a price target of $100, implying an upside of 40.8%.
Needham upgraded the rating on expanding customer base and valuation.
ACM Research is engaged in developing, manufacturing, selling single-wafer wet cleaning equipment for semiconductor manufacturers in manufacturing steps to remove particles, contaminants, and other random defects to improve product yield in fabricating advanced integrated circuits or chips.
Price Action: ACMR shares traded higher by 2.8% at $73.01 in the premarket session on the last check Friday.