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AEIS - Advanced Energy Industries: Lofty Valuation Clouds The Upside Potential
Advanced Energy Industries Inc.
Advanced Energy recently held an upbeat investor briefing, highlighting strong medium-term prospects backed by secular growth across its key end-markets.
The three-year EPS target moves up to $7.50, while the longer-term EPS target now stands at $12.00.
The initiation of a dividend is also a positive, emphasizing the through-cycle cash generation potential.
Following the recent re-rating, shares are pricey at c. 16x its three-year EPS target, keeping me on hold.