BofA raised the firm’s price target on Advanced Energy to $115 from $105 and keeps a Neutral rating on the shares. The firm, which expects some intra-sector rotation after a 60% year-to-date run in the SOX, also expects continued secular growth tailwinds in Generative AI, chip complexity, auto content, fab reshoring, and CHIPS Act benefits. BofA raised its semiconductors industry estimates, staying “selectively positive” in its “thematic 3C’s” of Cloud, Cars, and Complexity, while adding that it remains “lukewarm” on smartphones, telco and the enterprise.
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Read More on AEIS:
- Advanced Energy initiated with neutral view at Seaport Research, here’s why
- Advanced Energy initiated with a Neutral at BofA
- Advanced Energy initiated with an Equal Weight at Wells Fargo
- Advanced Energy price target lowered to $107 from $134 at Citi
- Advanced Energy price target lowered to $95 from $110 at Susquehanna
