Today’s Analyst Rating Roundup (AONE, HEV, VLNC, FSLR, SPWRA, ERII)

Several analyst rating notes to make you aware of today.  Hat tip to Street Insider for the analyst notes.

Needham & Company has initiated coverage on AONE, HEV and VLNC.

Initiated coverage on A123 Systems (AONE) with a Hold rating and $10 price target.  “Although we believe that A123 Systems has the potential to be a successful company in the long term, there are several near-term risks that could negatively affect AONE shares. The intellectual property (IP) is unresolved and the low factory utilization rates suggest the potential for challenging times ahead. We are taking a conservative stance at this time…We believe AONE shares will benefit from a rising tides scenario in the long-term as electric vehicles become more of a presence on the road and the company announces additional stationary deployments. We believe the rollout of the Fisker Karma should also serve as a positive catalyst.” Shares of AONE are surging 10% this morning, but remain mired in a long down trend. Your A123 Systems Trend Analysis

Initiated coverage on Ener1 (HEV) with a Buy rating and $6 price target.  “The company is “Getting Ready For Prime Time” and positioned to become a major supplier of lithium-ion (li-ion) battery systems into a growing passenger vehicle market. Based on our estimates, this market could balloon to a $24.7 billion industry for passenger vehicles by the year 2015. We would likely become even more positive on HEV shares once li-ion powered THINK vehicles start populating the road and the Volvo (N/R) C30 production roadmap becomes clearer.” Shares of HEV are surging more than 10% today and sure look like they have bottomed just below the $3 level.  Your Ener1 Trend Analysis

Initiated coverage on Valence Technology (VLNC) with a Buy rating and $1.50 price target. “In our view, market reception is improving for the company’s products in various niche markets. This should lead to improved financial visibility, but could also lead to capacity constraints as the company’s revenue stream is generated across various markets. We would become incrementally more positive on VLNC shares once this matter and the intellectual property dispute over the use of the company’s lithium-ion technology are resolved. Our $1.50 price target is based on 6.9x EV/s multiple on fiscal 2011 revenues.” Your Valence Analysis

Citi maintains its Hold rating on Energy Recovery (ERII), but lowers price target from $7.50 to $4. “We have reduced our target price to $4 as the continual reductions in guidance have taken a toll on the growth trajectory of our long term cash flows outlook. While we continue to see positive growth, the trajectory of that outlook has diminished. That our target has fallen a considerable percent underscores the heavily sensitive equity value for this story – minor changes in cash flow and earnings assumptions can dramatically affect the underlying equity value.” Shares of ERII are finally beginning to recover after being destroyed in the past two months.  Your Energy Recovery Trend Analysis

Credit Agricole initiated coverage on First Solar (FSLR) with an Outperform rating and $130 price target.  Shares of FSLR are up about 5% today and appear poised to test resistance in the $125 area.  Your First Solar Trend Analysis

Credit Agricole initiated coverage on SunPower (SPWRA) with an Underperform rating and $15 price.  Shares of SPWRA are also up 5% today and continue moving off an all time low, but will hit some resistance around the $15 area.  Your Sunpower Trend Analysis

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