Ener1 (HEV) Gets MDB Capital Upgrade to Buy

According to StreetInsider.com, MDB Capital is upgrading Ener1 (HEV) this morning from Hold to Buy and increased the price target from $7.50 to $10.  The analyst believes that HEV will meet or exceed its 09 volume commitment for the Think vehicle and is positioned for significant growth based on..

– the recent purchase of Enertech

– the beginning of shipments of its battery pack to Think Global as part of a $70 million contract

– the order of 2 plug-in hybrid electric vehicle packs from one of the largest European car manufacturers

– an order for a prototype battery pack to retrofit a vehicle for demo purposes from a large Tier 1 auto OEM

– financial incentives from Obama administration

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