Canaccord Genuity Smart Grid Preview: Some Opportunities Despite Softer Near-Term Sentiment
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Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Canaccord Genuity Smart Grid Preview: Some Opportunities Despite Softer Near-Term Sentiment
Analyst, John Quealy, said, "Even with sector sentiment relatively washed-out, stock volatility still remains elevated. In this environment, our work continues to find areas of attractive risk/reward going into Q1/12 earnings season, with perhaps more visible industry catalysts moving into H2/12."
Earnings Preview for Stocks Covered:
Echelon Corp (Nasdaq: ELON)(HOLD): Similar to last quarter, we expect compares to grow more challenging moving through ’12 as volumes at Duke (27% of ’11 revenues) moderate, while run rates at Fortum should help.
CG estimates: $41M/$(0.10) vs. Street $40.1M/($0.11).
Elster Group (NYSE: ELT)(BUY): Domestic water could get helped by an improving domestic environment, but still likely remains variable. Recent shelf will likely stay an overhang. CG estimates $444M/$0.21 vs. Street $451M/$0.25.
EnerNOC (Nasdaq: ENOC)(BUY): Contrary to Street sentiment (and the stock price), our channel work finds Q1 order flow to be strong as PJM issues get resolved and EE business continues to progress. CG estimates: $25M/$(1.05) vs. Street $28.4M/$(0.98).
ESCO Technologies (NYSE: ESE)(HOLD): We expect an-line quarter, as good results are expected across the USG, Filter and Test units. CG estimates: $172M/$0.41 vs. Street $173.8M/$0.42.
Itron (Nasdaq: ITRI)(BUY): Beyond new segment reporting, we expect solid results and cash flows driven by No. American OpenWay and a resilient International business. CG estimates $556M/$0.89 vs. Street $549.8M/$0.93.
Analyst, John Quealy, said, "Even with sector sentiment relatively washed-out, stock volatility still remains elevated. In this environment, our work continues to find areas of attractive risk/reward going into Q1/12 earnings season, with perhaps more visible industry catalysts moving into H2/12."
Earnings Preview for Stocks Covered:
Echelon Corp (Nasdaq: ELON)(HOLD): Similar to last quarter, we expect compares to grow more challenging moving through ’12 as volumes at Duke (27% of ’11 revenues) moderate, while run rates at Fortum should help.
CG estimates: $41M/$(0.10) vs. Street $40.1M/($0.11).
Elster Group (NYSE: ELT)(BUY): Domestic water could get helped by an improving domestic environment, but still likely remains variable. Recent shelf will likely stay an overhang. CG estimates $444M/$0.21 vs. Street $451M/$0.25.
EnerNOC (Nasdaq: ENOC)(BUY): Contrary to Street sentiment (and the stock price), our channel work finds Q1 order flow to be strong as PJM issues get resolved and EE business continues to progress. CG estimates: $25M/$(1.05) vs. Street $28.4M/$(0.98).
ESCO Technologies (NYSE: ESE)(HOLD): We expect an-line quarter, as good results are expected across the USG, Filter and Test units. CG estimates: $172M/$0.41 vs. Street $173.8M/$0.42.
Itron (Nasdaq: ITRI)(BUY): Beyond new segment reporting, we expect solid results and cash flows driven by No. American OpenWay and a resilient International business. CG estimates $556M/$0.89 vs. Street $549.8M/$0.93.
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