On June 25, Advanced Energy Industries rose 6.71% in after-hours trading, trading at $373.0 per share, with turnover of $14.88 million.
On the news front, Bank of America Securities raised its target price on Advanced Energy Industries from $430 to $450, reinforcing bullish sentiment. According to FactSet, the stock currently carries an average analyst rating of overweight with a mean price target of $396.50. Additionally, the company previously announced it will redeem all remaining $136.7 million of its 2.50% convertible senior notes due 2028 at 100% par value on September 23, effectively eliminating equity dilution concerns associated with the outstanding convertible debt.
Advanced Energy Industries specializes in highly engineered power conversion, measurement, and control solutions for global customers across semiconductor equipment, data center computing, industrial and medical, and telecom and networking markets.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments