According to Citi, Advanced Energy Industries AEIS is upgraded to Buy.
Citi said that it is increasing C2012 and ‘13 EPS to $0.85 and $1.35 respectively - both materially above Street $0.61 and $1.15 – and raising its target from $10 to $16.50, representing ~44% upside. “Our new target is based on 10x C2013 + ~$3/share net cash.”
Advanced Energy Industries closed on Friday at $11.49.
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