Advanced Energy upgraded to Positive from Neutral at Susquehanna

Susquehanna last night upgraded Advanced Energy (AEIS) to Positive from Neutral with a price target of $300, up from $190. Recent channel checks checks suggest the semiconductor capital equipment industry is preparing for $120B wafter fab equipment spending, the analyst tells investors in a research note. Susquehanna says that with lobal semi revenues trending to over $1 trillion, the wafer fab equipment supply chain must prepare for spending well above $150B. It believes WFE fundamental trends “remain strong” and upgraded both Advanced Energy and Applied Materials to Positive.