Barclays Maintains an 'Equalweight' on Advanced Energy Industries (AEIS); Few Surprises at Analyst Day; Focus Remains on Margins
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Price: $285.83 -2.32%
Rating Summary:
16 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Advanced Energy Industries (NASDAQ: AEIS) price target of $10.00.
Barclays analyst says, "We view management's focus on achieving profitable growth as the right strategy to take in an environment where many competitors have already restructured their business models and where Inverter ASP pressure is likely to get worse before it gets better. This said, the key from here remains execution on the margin targets. While valuation remains undemanding at 0.9x book, we believe investors will need to see several quarters of margin improvemen-particularly in the Inverters-before getting more positive. Additionally, repeated commentary about likely acquisitions may act as a headwind to sentiment, particularly without clarity on the magnitude of the M&A."
"No Changes to Estimates: We maintain our CY12 estimates of $486M/$0.75 (street $501M/$0.76) and CY13 estimates of $551M/$1.25 (street $549M/ $1.35)."
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 $8.85 yesterday.
Barclays analyst says, "We view management's focus on achieving profitable growth as the right strategy to take in an environment where many competitors have already restructured their business models and where Inverter ASP pressure is likely to get worse before it gets better. This said, the key from here remains execution on the margin targets. While valuation remains undemanding at 0.9x book, we believe investors will need to see several quarters of margin improvemen-particularly in the Inverters-before getting more positive. Additionally, repeated commentary about likely acquisitions may act as a headwind to sentiment, particularly without clarity on the magnitude of the M&A."
"No Changes to Estimates: We maintain our CY12 estimates of $486M/$0.75 (street $501M/$0.76) and CY13 estimates of $551M/$1.25 (street $549M/ $1.35)."
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 $8.85 yesterday.
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