Northland raised the firm's price target on AXT Inc. (AXTI) to $125 from $90 and keeps an Outperform rating on the shares. Yesterday's comments from Nvidia's (NVDA) CEO inspired strength in Marvell (MRVL), which along with continued strong AI Data Center results from HPE (HPE) and capex funding for Alphabet (GOOGL) "bode well for the space," says the analyst, who raised price targets on several communications technology names with further indications of both short term acceleration in AI optical demand and a sustainable multi year cycle from here.
