On August 18, Advanced rose 5.5% in regular trading, trading at $348.43/share, with turnover of $74.95 million.

On the news front, the company previously reported Q2 results that significantly exceeded expectations, while multiple investment banks subsequently raised their ratings and price targets, continuing to drive the stock higher. Specifically, Q2 adjusted EPS came in at $2.74, representing an 82.67% year-over-year increase and beating the consensus estimate of $2.21 by approximately 24.5%. Quarterly revenue reached $574.1 million, up 29.9% year-over-year and surpassing the $544 million estimate.

Adding to the momentum, Seaport Global upgraded the stock to Buy from Neutral with a $410 price target, while Morgan Stanley raised its target to $439 from $421, maintaining an Overweight rating. The average analyst price target now stands near $429. Management issued Q3 guidance of $3.00 EPS and $640 million in revenue, both well above analyst expectations of $2.46 and $576.3 million, respectively, citing continued strong demand across all end markets and projecting robust earnings growth into the following year.

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