Benzinga | Jan 26, 2022 06:11AM EST

KeyBanc Sees 25% Upside In Advanced Energy Industries

* KeyBanc analyst Steve Barger initiated Advanced Energy Industries Inc (NASDAQ:AEIS) with an Overweight rating and a price target of $105, implying an upside of 24.7%.

* The analyst is positive about the company's position as a niche provider of proprietary, largely sole-source precision power products.

* Barger sees over 70% of Advanced Energy's revenue being derived from products that are sole-source and dual-source for much of the rest of its products.

* Price Action: AEIS shares closed lower by 4.33% at $84.19 on Tuesday.