A couple analyst notes out after the A123 Systems (AONE) earnings last night.
Janney Montgomery Scott maintains a Neutral rating, but lowers price target from $14 to $12. “AONE reported 1Q10 results that were in-line on the top line, while falling slightly short of consensus on the EPS line. We were surprised by the quarter-over-quarter drop in total shipments and are adjusting our shipment forecasts for slightly slower growth. On the positive side, the Company announced an agreement with Eaton Corporation (ETN) to provide battery systems for the Ford (F) F550 based Plug-in Hybrid Electric Vehicle (PHEV).”
RBC maintains its Buy rating, but has slashed the price target from $22 to $16.