Needham is out reiterating its Buy rating on American Superconductor (AMSC) and has a $40 price target.
Hat tip to Street Insider for the analyst comment: “Two separate announcements this week in AMSC’s fast-growing wind power business, and its long-term growth engine, the superconducting wire business, have increased our confidence in the company’s growth prospects. The announcement earlier this week of an initial order from Sinovel … Read the rest
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:
“We believe ENER will continue to struggle as oversupply conditions continue and demand for niche products like flexible BIPV remains below expectations. While we … Read the rest
Sinovel is expected to begin installing its 5MW wind turbine prototypes within the next year with American Superconductor (AMSC) supplying the electrical guts of the system. AMSC announced it has received an initial order and expects to ship it out in the second half of this year.
Sinovel is China’s largest wind turbine manufacturer, shipping out 2400 1.5MW and 100 3MW turbines last year. It’s next generation … Read the rest
Broadwind Energy (BWEN) recorded another quarter of losses and profitability isn’t looking likely until at least 2011. Subtracting one time items the company posted a loss .11/share, which was .04/share more than what analysts expected. Revenues missed badly as well coming in at $32.95 million, missing estimates of $46 million. This is a company making no progress and even took a step backwards last quarter.
The CEO explained the poor performance: “Broadwind was significantly impacted … Read the rest
A-Power Energy Generation Systems just announced that will work with US Renewable Energy Group and American Nevada Group to build a wind turbine production and assembly plant in Nevada. Once completed, the plant will be capable of producing 1,100 megawatts worth of advanced wind turbines each year.
The plant will also bring approximately 1,000 long-term jobs to Nevada, plus jobs generated by construction.
American Superconductor has just announced that it has received a follow-on order from CSR Zhuzhou Electric Locomotive Research Institute Co., Ltd. (CSR-ZELRI). The wind turbine core electrical component order, worth $10 million, is the fifth order that CSR-ZELRI has placed with AMSC. AMSC will deliver the components to CSR-ZELRI by the end of the calendar year.
In a , Dan McGahn, president and chief operating officer of AMSC, commented on the news:
Speculation has been swirling for a few months now that legislation would be passed putting the kibosh on the big 600MW Texas wind farm being developed by Shenyang Group (which A-Power has majority ownership of) and a few US based companies such as US Renewable Energy and Cielo Wind.
A few Democrats aren’t all that thrilled that China based A-Power Energy is playing such a big part, supplying the turbines for the project. According to … Read the rest
NRG Energy just announced that it has signed a letter of intent to purchase the South Trent wind farm, a 101 MW wind farm located near Sweetwater, Texas. Once the Public Utility Commission of Texas approves the purchase, the wind farm will become the fourth onshore plant that NRG owns. All of the power produced will be purchased by AEP Energy Partners under a 20-year power purchase agreement.
Broadwind Enregy just announced that they are extending their Repair and Engineering Services to offer enhanced megawatt (MW) gearbox repair and refurbishment capabilities. Currently, these services are performed outside of the US. Broadwind Energy believes that it is the first independent wind energy product/service provider to offer this service inside the US. The company expects to have these services available by the latter half of this year, and will be able to offer around 500 … Read the rest
This morning China Wind Systems (CWS) posted preliminary results for the full year 2009. It should be noted that these are preliminary, unaudited results. The company will release official results sometime in the next month.
The company expects full year 2009 revenues to come in at $53.4 million (or $15.8 million for the quarter) and the EPS at .34/share (or .13/share for the quarter). Those numbers represent a 26% and 33% jump over 2008 levels. … Read the rest
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