Goldman Sachs Raises PT on ACM Research From $35.3 to $40.1, Keeping Buy Rating on the Stock

ACM Research Inc. (NASDAQ:ACMR) is one of the 12 Best Semiconductor Equipment Stocks to Buy Right Now. On August 25, Goldman Sachs raised the price target on ACM Research Inc. (NASDAQ:ACMR) from $35.3 to $40.1, keeping a Buy rating on the stock.

Allen Chang from Goldman Sachs increased the price target on ACMR following the Q2 FY2025 results. ACM Research posted $215.4 million in revenue, up 6.4% year-over-year and achieving sequential growth of 25%, driven by repeat orders for its new Ultra C wb Wet Bench Cleaning Tool. The company is expanding its product portfolio with new platforms, including Track, PECVD, and panel leveling tools, which are expected to drive long-term growth.

Goldman Sachs Raises PT on ACM Research From $35.3 to $40.1, Keeping Buy Rating on the Stock

Chang is optimistic about ACM Research as the company sees its long-term revenue target for China to grow to $2.5 billion, indicating confidence in market growth. The company has also reiterated its FY2025 guidance range of $850 million to $950 million.

As of August 29, ACM Research Inc.’s (NASDAQ:ACMR) average price target of $36, based on analysts’ estimates, implies an upside of nearly 27.57% from current levels.

ACM Research Inc. (NASDAQ:ACMR) develops, manufactures, and sells semiconductor process equipment for various businesses, including cleaning, electroplating, stress-free polishing, and wafer- and panel-level packaging tools, among others.

While we acknowledge the potential of ACMR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ACMR and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.