Rosenblatt Starts Advanced Energy Industries (AEIS) at Buy
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Rosenblatt analyst Scott Graham initiates coverage on Advanced Energy Industries (NASDAQ: AEIS) with a Buy rating and a price target of $98.00.
The analyst comments "We expect AEIS to continue to outperform the upturns in the Semiconductor and Datacenter markets and for its Industrial and Telecom markets to turn up in 2021. We consider the acquisition of Artesyn transformational in that it diversifies the portfolio, adds new paths for sales and offers opportunities to lower costs through the increased mass. In our view, favorable trends in its verticals, rising power conversion mix in its served markets and Artesyn are building new earnings power which is not discounted in the stock."
Shares of Advanced Energy Industries closed at $61.72 yesterday.
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