Raymond James Starts Advanced Energy Industries (AEIS) at Outperform, $26 PT

September 4, 2013 5:07 PM EDT Send to a Friend
Get Alerts AEIS Hot Sheet
Price: $24.00 -3.15%

Rating Summary:
    4 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 27 | Down: 26 | New: 30
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Raymond James initiates coverage on Advanced Energy Industries (NASDAQ: AEIS) with a Outperform. PT $26.00.

"Having diversified away from its legacy thin film business, Advanced Energy has emerged as one of the top global players in the PV inverter arena," analyst Pavel Molchanov comments. "This provides direct leverage to the PV industry's secular growth curve - particularly in the rapidly expanding North American market - while avoiding the intense commoditization across much of the value chain. Given the company's competitive strengths, strong balance sheet, and robust free cash flow, we are initiating with an Outperform rating and an Aggressive Growth suitability rating, making this the only solar stock we currently recommend."

For an analyst ratings summary and ratings history on Advanced Energy Industries click here. For more ratings news on Advanced Energy Industries click here.

Shares of Advanced Energy Industries closed at $18.16 yesterday.

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