Barclays came out with a few calls yesterday, maintaining its Equalweight rating on both Itron (ITRI) and American Superconductor (AMSC).
The firm has a $70 price target on ITRI which is about 15% higher than the current price. They are raising 2010 estimates from $3.35 to $3.65 and 2011 estimates from $3.67 to $4.06. Shares of ITRI are increasingly bullish in recent weeks, getting back above resistance of the 50 day moving average. In my opinion, they offer a compelling long term entry point down here.
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The firm sees limited Sinovel orders for AMSC in the near term and believes non-Sinovel orders or upside guidance will be needed for the stock to break out of its current trading range. Shares of AMSC have looked much more bullish in recent weeks as well, pushing above both the 50 and 200 day moving averages. In my opinion, it’s a Buy on any pull backs from here.
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Needham maintained a Hold on Sunpower (SPWRA) this morning. The firm sees the company as a bit risky in the short term, but likes the longer term potential.
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