Needham & Company Takeaways on Advanced Energy Industries (AEIS) From Meeting: Expect Dip Before L-T Trajectory Met

Needham & Company maintains a 'Hold' on Advanced Energy Industries (NASDAQ: AEIS).

Analyst, Y. Edwin Mok, said, "Last week, we hosted investor meetings with Advanced Energy’s CEO Mr. Garry Rogerson and CFO Mr. Danny Herron at the Needham Advanced Industrial Technologies Conference. Overall, we came away incrementally more positive on the company’s progress in achieving the long-term target model by 2014 with earnings power of $2/sh. With some of the cost reduction efforts in place, management now appears to be shifting its focus to growing the business and cash generation. In the near-term, however, we believe revenue growth trajectory will moderate in the next few quarters as the thin-film business softens in 2H12 and solar faces seasonal slowdown in early 2013."

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 $13.02 yesterday.

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