Needham & Company Maintains a 'Buy' on Advanced Energy Industries (AEIS); Adjusting Estimates in Conjunction With Our Updated Industry Outlook

Needham & Company maintains a 'Buy' on Advanced Energy Industries (NASDAQ: AEIS) price target lowered by $2 to $12.

Needham analyst says, "We are adjusting our estimates and lowering our price target for AEIS, in conjunction with our updated industry outlook as detailed in our industry report titled: Semiconductor Capital Equipment Update Volume 23: Picking a Bottom. Adjusting estimates and price target. We have dropped our 2011 revenue/non-GAAP EPS estimates to $535MM/$1.14, and lowered our 2012 estimates to $545MM/$1.00, reflecting a more conservative outlook due to concerns over deteriorating chip demand and the lack of visibility."

For more ratings news on Advanced Energy Industries click here and for the rating history of Advanced Energy Industries click here.

Shares of Advanced Energy Industries closed at $9.78 yesterday.

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