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Analyst Explains Why They Upgraded Their Rating on Advanced Energy (AEIS)

Needham analyst Quinn Bolton upgraded Advanced Energy (AEISResearch Report) to Buy today and set a price target of $120.00. The company’s shares closed last Thursday at $84.93, close to its 52-week low of $81.71.

According to TipRanks.com, Bolton is a top 25 analyst with an average return of 52.8% and a 80.6% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Ultra Clean Holdings, and Allegro MicroSystems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Advanced Energy with a $106.29 average price target.

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Advanced Energy’s market cap is currently $3.2B and has a P/E ratio of 24.60. The company has a Price to Book ratio of 7.13.

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Advanced Energy Industries, Inc. engages in the provision of precision power conversion, measurement, and control solutions. Its products are used in complex semiconductor and thin film plasma processes such as dry etch, strip, chemical and physical deposition; high and low voltage applications such as process control, analytical instrumentation and medical equipment; and in temperature-critical thermal applications such as material and chemical processing. The company also supplies related instrumentation products for advanced temperature measurement and control; electrostatic instrumentation products for test and measurement applications; and gas sensing and monitoring solutions for multiple industrial markets. Advanced Energy Industries was founded by Douglas S. Schatz in 1981 and is headquartered in Fort Collins, CO.

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