Deutsche Bank Boosts Price Target on Energy Conversion Devices (ENER) to $50
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Deutsche Bank raised its price target on Energy Conversion Devices (Nasdaq: ENER) to $50, reiterating their Buy rating, following solid Q3 results and guidance. The firm highlighted that the company achieving profitability a quarter early.
The firm said, "Quarterly performance reinforces the operational focus of new management, with faster than expected results. We expect solid profitability through F2009 on a ramping solar PV business, with more reliable manufacturing performance and sales channel management."
NOTE: Shares of ENER are up nearly 40% today to $48.35.
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