JMP Securities is bullish on a few green stocks due to an expected increase in electricity demand which the firm sees sparking increased efforts to develop alternative energy solutions. They see good value in demand response players EnerNOC (ENOC) and Comverge (COMV) as well as US solar company Sunpower (SPWRA) and have an Outperform rating on all three.
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Analysts have weighed in on Itron … Read the rest
Itron (ITRI) and Cisco (CSCO) have announced an alliance this morning to help advance the smart grid. The two will work on developing a next generation, open and interoperable, highly secure, enterprise class IPv6 based smart grid network for utilities. Itron will end up licensing and embed Cisco IP technology within its OpenWay smart grid meters as well as distribute Cisco networking equipment and software needed for full deployment of the smart grid. Truly a … Read the rest
A couple rating changes this morning..
UBS upgraded First Solar (FSLR) from Neutral to Buy and raised their price target from $136 to $150. The firm cited increased global demand. Raised 2010 EPS from $7.30 to $7.50 and 2011 EPS from $8.00 to $8.80. Shares of FSLR are up nearly 3% today and holding in well at support around the 50 and 200 day moving averages. It may be gearing up for another leg higher.… Read the rest
Piper Jaffray has resumed coverage of a few smart grid stocks according to Street Insider.
Comverge (COMV) at Overweight and $12 price target.
“We believe Comverge’s diversified demand response platform, and growing presence in the commercial & industrial (C&I) segment, will result in significant revenue growth over the next 2 years with a healthy profitability inflection point being reached in 2H11.”
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Itron (ITRI) at Neutral … 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
A couple more firms have come out with notes on Itron (ITRI) after it was rumored that Siliver Springs Networks will win the BG&E deal, not Itron. Hat tip to Street Insider for the analyst comments.
Wedbush is downgrading Itron from Outperform to Neutral and is also cutting the price target from $85 to $62. “The loss of BG&E to SSN suggests continued headwinds for Itron’s backlog growth, lowers Itron’s general credibility with existing … Read the rest
It’s been a rough couple of weeks for Itron (ITRI). About two weeks ago, I wrote about Itron (ITRI) likely losing the big Sempra Energy (SRE) smart meter deal to Esco Tech (ESE) which sent the stock plummeting. However, the selling didn’t last long and the shares recovered further after posting a strong earnings report. Today, the stock ran out of steam as it was hit with not only a downgrade out of Macquarie … Read the rest
It’s been a rough few months for Itron (ITRI), culminating in a 10% plunge several days on news it has likely lost a big smart meter deal with Sempra Energy (SRE) to Esco Technologies (ESE). After the bell today, the stock is continuing to erase that loss after the company reported strong results after the bell.
==> Click Here For Your FREE Itron Technical Analysis
Itron (ITRI) smashed analyst estimates, posting a Q2 non-GAAP EPS … Read the rest
Sempra Energy (SRE) will soon make an announcement as to which company will win the estimated $400 million smart meter contract. It had been thought that Itron (ITRI) would win the contract, but today Esco Technologies (ESE) announced it was selected by Sempra for “negotiation of a definitive agreement”.
RBC Capital Markets analyst Stuart Bush called the move unusual and said it implies Esco has a leading position in negotiations. Stifel Nicolaus analyst Jeff Osborne … Read the rest
Spain’s top energy company and one of the world’s largest utility companies, Iberdrola, has selected Itron’s (ITRI) smart meter technology for the first phase of its smart meter rollout. Itron will provide the development and integration of the smart meters and the data management software to go with it. The initial deployment calls for 100K meters in the city of Castellon, Spain to be completed by the end of this year with the potential for … Read the rest