A few analyst notes to tell you about this morning on EnerNOC (ENOC) which reported earnings last night and Evergreen (ESLR) which reported uninspiring results two days ago. Clearly, these companies are heading in opposite directions and the analysts agree. Hat tip to Street Insider for the following analyst comments.
Both UBS and Citi maintain their Sell ratings on ESLR. UBS lowered the price target to below a buck at .90 and the FY10 EPS … Read the rest
EnerNOC (ENOC) reported results after the bell that were stronger than Wall St forecasts. The company posted a narrower loss of .41/share vs the estimate of .69/share loss on revenues of $28.1 million which beat estimates by about $2 million. That’s a nice beat and considerably better than the year ago quarter when the company posted a loss of .48/share. Revenues increased 53% over the year ago quarter. I’m not sure the results were strong … Read the rest
ABB has just announced that it is acquiring Ventyx, an energy management software provider, for more than $1 billion cash. The purchase is pending regulatory approvals and should be complete by the second quarter of 2010.
In a press release, Joe Hogan, ABB’s CEO, explained why purchasing Ventyx should be advantageous for ABB:
“The big advantage for energy companies, utilities and industrial customers is that they will now have a single supplier of enterprise-wide … Read the rest
It’s always a real challenge to keep up during earnings season and I burned out a bit by Friday. I’ve got a bit of catching up to do today and I start with Friday’s analyst alerts. Hat tip to Street Insider for the analyst comments.
A couple calls on Rubicon Technology (RBCN), the emerging LED play, following its earnings report last week…
Canaccord Adams reiterated a Buy and raised the price target from $30 … Read the rest
After last quarter’s earnings report I declared that Itron (ITRI) had finally turned the corner and after another quarter of smashing estimates it appears they’re turning that corner up on two wheels, smoke billowing out the back. The company smashed EPS and revenue estimates after the bell today posting a non GAAP EPS of $1.01 (really .75/share if you take out .26/share tax benefit) on revenues of $499 million. That’s still way ahead of the … Read the rest
Both Deutsche Bank and Canaccord Adams are reiterating their Buy rating on Itron (ITRI) ahead of earnings after the bell tomorrow. Both raised the price target from $80 to $85.
Deutsche believes Itron’s Q1 results will exceed expectations and that “improving macro trends were only partially offset by FX (3% Q/Q) and Cu headwinds.”
Canaccord said, “In short, Itron is beginning to benefit from much better OpenWay capacity utilization, as customers look to notably accelerate … Read the rest
Put Digi International (DGII) on your radar, particularly tomorrow morning. This is a smart grid play to keep an eye on and continues to look quite bullish. They don’t generate a lot of revenue yet from smart grid deployments, but that should change in the years to come. Itron (ITRI) is using their technology.. enough said. The stock has been running up since last December with volume and recently broke out to a new … Read the rest
ABB just announced that it will be working with T-Systems, the enterprise customer division of Deutsche Telekom, to develop smart grid solutions that enable customers to understand and control their energy usage.
In a press release, Peter Smits, CEO of ABB and head of the central Europe region, commented on the news:
“By joining forces, ABB and Deutsche Telekom are combining their know-how, which is perfectly matched to create smart grids. We are offering … Read the rest
The Azerigas Production Union which is responsible for the transmission and sale of natural gas in the Azerbaijan region of central Asia announced they will implement Itron’s smart meter and payment system in the city of Baku and will roll it out nationwide eventually. Itron has already begun shipping its smart payment meters and smart cards as well as the management software. Consumers will be able to purchase meter credit with their smart cards through … Read the rest
Brean Murray is out with a bullish call on the smart grid sector this morning and believes that with healthcare reform out of the way, the government will return its attention back to energy and energy efficiency. Hat tip to Street Insider for the following analyst comment.
“…With (Fed’s) funding checks expected by the second half of 2010 accelerating smart grid deployment projects, and an expectation for increased federal attention back toward energy and efficiency … Read the rest