Bank Of America Merrill Lynch Reiterates Buy Rating And Maintains $19 PT On AEIS

In a recent report, Bank of America Merrill Lynch has reiterated a Buy rating and a $19 price target on Advanced Energy AEIS after CFO, Danny Herron, presented at the annual BofA Merrill Lynch SmidCap conference. In the report, BofA Merrill Lynch said, "We expect AEIS to benefit from ongoing cost reduction activities, increasing traction for the inverter business, and improving semiconductor dynamics in C2H11. The semi-cap peer group average is currently trading at around 14x CY11 estimates, while inverter peers are trading at 9x." Advanced Energy Industry closed yesterday at $15.39.