At least two analysts remain bullish on Cree Inc (CREE) following their earnings results last night. Hat tip to Street Insider for the analyst comments.
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Piper Jaffray reiterates an Overweight rating and $88 price target.
“Although initial investor reaction is one of disappointment that Cree’s Sept ’10 revenue guidance ($270-$280m) was below consensus of $284m, we remain encouraged that its core lighting business will continue double … Read the rest
Several analyst rating changes to tell you about this morning. Hat tip to Street Insider for the analyst commentary.
Needham & Company reiterated a Buy on Echelon Corp (ELON), but lowered the price target from $11 to $10.
“While uncertainty remains on the pace of uptake at utilities exploring AMI solutions as well as at current customers such as Duke, we continue to believe that Echelon has a solid technology offering that not only addresses … Read the rest
Goldman Sachs slashed its price target on A123 Systems (AONE) this morning from $15 to $9, but kept the Neutral rating following a meeting with management. The firm raised 2010-2012 revenue estimates, but forecasts larger EBITA losses. The firm raised 2010 revenue estimates form $139M to $141M, 2011 from $262M to $276M and 201 from $416M to $431M. EBITA loss estimates rise from ($76M) to ($98M) for 2010, ($44M) to ($67M) for 2011 and $13M … Read the rest
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 … Read the rest
Cantor Fitzgerald is out with a Buy rating on Real Goods Solar (RSOL) this morning and a price target of $5.
Hat tip to StreetInsider.com for the following analyst comment:
The firm commented, Real Goods is one of the largest independent solar installers in California, the largest market in the US. We believe that an attractive mix of strong financial incentives and falling panel prices will lead to stronger adoption of solar PV power systems … Read the rest
Echelon (ELON), a significant, but unprofitable player in the smart metering industry, surged 13% today with decent volume following a BUY initiation and price target of $9.50 from Cantor Fitzgerald. According to the StreetInsider.com, Cantor had this to say:
“The shares are trading close to their 52-week low in a challenging equity market. We believe the company has strong growth prospects in 2010 and beyond as the world moves to upgrade its electric grids … Read the rest
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