It’s been a mighty rough year for Raser Technologies (RZ).  With broken promises and financing concerns weighing on the stock, it trades down around a buck while many of its green stock peers move to new 52 week highs.  It’s still a mighty speculative play, but the reward vs risk may be improving down here (a break below the buck level would change that view point).

After the bell yesterday Cantor Fitzgerald initiated coverage of Raser with a Buy rating and a price target of 1.50.  Hat tip to StreetInsider.com for the following analyst comment:

“We are very positive on geothermal power for electricity generation because of its long-term reliability and ability to provide clean renewable baseload electric power. Properly developed, we believe that geothermal power plants can be attractive investments…We believe that the financing environment for geothermal power plants is improving and that Raser is in a position to develop up to eight plants over the next four years…We are also generally favorable on the outlook for the shares of Raser and we believe that several potentially positive developments are on tap for 2010. We believe that the shares have probably seen their lows and could move up over the next year with improving news flow. However, in order to secure project financing, we believe that Raser may give up a significant ownership share in each project. The uncertainty in potential ownership provides a very wide range of potential valuation, but using the low end we arrive at a price target of $1.50 per share.  For 4Q:09, we are estimating that the company will report a loss of $0.11 per share on revenues of $845k. For the full year 2010, we are estimating that the company will report a loss of $0.45 per share on revenues of $5.8 million.”

Shares of RZ aren’t moving up much on the Buy coverage.. yet.

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