Barclays said it will maintain an 'Equalweight' rating on Advanced Energy (Nasdaq:AEIS), after news the CFO of the company had resigned, triggering speculation about the company's health.
An analyst from Barclays commented on that saying, "While the resignation of AE's CFO does come as a surprise to us, we do not believe it portends any major issues at the company and also it does not suggest any roadbumps in AE's transition to a renewable energy focused co. following inverter biz acquisition and MFC divestiture."
Advanced Energy develops and markets product which allow the transformation of power into a variety of usable applications.
Barclays has a price target of $19 on the company. Advanced Energy was at $15.28, a loss of $0.68, or 4.26 percent, as of 3:21 PM EDT.
2 comments:
This amazed me that CFD of the company gives resign for the company after the news when it is released.
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