An analyst on Seeking Alpha upgraded AXT, Inc. (AXTI) to "Buy" from "Hold." The analyst set an $85 price target. The stock recently corrected 60% from its highs.
The analyst cited better-than-expected second-quarter results. The company issued strong third-quarter guidance on July 30, 2026. The analyst also noted the company's July announcement to list its main Chinese subsidiary on the Hong Kong Stock Exchange.