Needham & Company Upgrades Advanced Energy Industries (AEIS) to Buy

Needham & Company upgraded Advanced Energy Industries (NASDAQ: AEIS) from Hold to Buy with a price target of $65.00.

Analyst Y. Edwin Mok commented, "We are upgrading AEIS from a Hold to a Buy rating and assigning a Price Target of $65, based on our expectation for management to raise its target model, growth in the SemiCap and Industrial segments, its strong margins profile and upside to the Street's model. We believe AEIS is one of the few unique growth stories in our SemiCap coverage and will continue to deliver higher profitability and shareholder returns in the coming years. The stock had an exceptional run, up 94% in 2016, but we see further upside to its share price as we expect investors to gravitate towards the highest quality names."

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 $56.03 yesterday.

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