Cantor Fitzgerald Downgrades Echelon (ELON) to Hold
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Price: $2.52 +1.20%
Rating Summary:
3 Buy, 9 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
3 Buy, 9 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade ELON Now!
Cantor Fitzgerald downgraded Echelon (NASDAQ: ELON) from Buy to Hold with a price target of $3.50 (from $5.00).
Analyst Dale Pfau said "Echelon reported a good 2Q:12 with results above consensus. However, large production programs with Duke (NYSE: DUK) and Telvent will begin to wind down in 3Q:12. Furthermore, the company has been unable to convert its sales pipeline to production contracts that will mitigate the slowing revenues. Meanwhile, we now believe that subsystem contracts in Brazil and China will not offer material revenues until 2H:13."
For an analyst ratings summary and ratings history on Echelon click here. For more ratings news on Echelon click here.
Shares of Echelon closed at $3.49 yesterday, with a 52 week range of $2.84-$9.55.
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Analyst Dale Pfau said "Echelon reported a good 2Q:12 with results above consensus. However, large production programs with Duke (NYSE: DUK) and Telvent will begin to wind down in 3Q:12. Furthermore, the company has been unable to convert its sales pipeline to production contracts that will mitigate the slowing revenues. Meanwhile, we now believe that subsystem contracts in Brazil and China will not offer material revenues until 2H:13."
For an analyst ratings summary and ratings history on Echelon click here. For more ratings news on Echelon click here.
Shares of Echelon closed at $3.49 yesterday, with a 52 week range of $2.84-$9.55.
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