Needham analyst Quinn Bolton raised the firm’s price target on Advanced Energy to $112 from $88 and keeps a Buy rating on the shares. The analyst cites the company’s Q4 earnings beat – its fifth in a row – and believes that Advanced Energy is positioned to "weather the storm" in semiconductors better than many of its peers. The firm also cuts its FY23 EPS view on the stock by 30c to $4.10 but expects these to be "trough earnings" and believes that shares warrant a higher than average price to earnings multiple.
Published first on TheFly
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