American Superconductor (AMSC) Upgrade, Energy Conversion (ENER) Underperform

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09:41:58 am on March 23, 2010

Two noteworthy analyst notes this morning on American Superconductor (AMSC) and Energy Conversion Devices (ENER).

Wedbush maintains its Underperform rating on ENER and is lowering the price target from $9 to $7.  Hat tip to Street Insider for the following analyst note:

===> Click Here For Your FREE Energy Conversion Analysis

“We believe ENER will continue to struggle as oversupply conditions continue and demand for niche products like flexible BIPV remains below expectations. While we believe ENER’s flexible PV laminates are appropriate for specific applications, we remain concerned about the company’s ability to move significant product volume and maintain premium ASPs in the current environment…The company has not provided FY10 production or revenue guidance. We are estimating ~85 MW shipped in FY10 at an average ASP of $2.05 per watt…No changes to our revenue/GAAP EPS estimates of $221.6 million/($3.19) for FY10 and $265.2 million/($2.32) for FY11.”

Shares of ENER are under a bit of pressure this morning, down nearly 2%

On the bullish side, Jefferies has upgraded AMSC from Hold to Buy and has a $35 price target.  Shares of of AMSC are up 8% today, but technically the stock remains very sick as institutions continue to dump it. 

===> Click Here For Your FREE American Superconductor Analysis

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