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Advanced Energy initiated with Hold rating at Stifel

Published 08/23/2017, 03:35 PM
© Reuters.  Advanced Energy initiated with Hold rating at Stifel
AEIS
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  • Advanced Energy Industries (AEIS -2.6%) is started with a Hold rating and a $74 price target at Stifel, which believes the company is well positioned fundamentally to outpace the overall WFE market but prefers a better entry point for the stock.
  • Stifel sees three key investment highlights for AEIS: The company is well positioned to capitalize upon the increasing capital intensity trends in the etch and deposition markets; with its decision to divest and close its low-margin solar inverter business, AEIS has seen a significant improvement in its operating model; and participation in the non-semis/industrial market provides an avenue for diversification and growth in its own right.
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