Dutton Associates Announces Investment Opinion: BluePoint Energy Raised to Strong Speculative Buy By Dutton Associates

July 16, 2008 10:59 AM EDT

ROSEVILLE, Calif.--(BUSINESS WIRE)--

Dutton Associates continues its coverage of BluePoint Energy (OTCBB: CPEU) raising its rating to Strong Speculative Buy and a $2.50 price target. The 15-page report by Dutton senior analyst Richard West, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg Professional, Capital IQ, Zacks, Knobias, Reuters, and other leading financial portals.

Since our last Research Report, there have been several events that affected our rating of BluePoint Energy that included a major addition to the business plan, signing of financing for projects and working capital, creation and expansion of the infrastructure, signing of an alliance with Caterpillar (NYSE:CAT-$70.00), signing of Demand Response Asset Aggregation Program (D-RAAP(TM)) installation projects for Macy's (NYSE:M-$15.91) and Starwood Hotels and Resorts Worldwide (NYSE:HOT-$32.31), and signing of D-RAAP installation projects with utilities in California, New York and Hawaii. The D-RAAP program now holds great promise for near-term and long-term revenue prospects for BluePoint Energy. For these reasons we are increasing our rating to a Strong Speculative Buy with a new price target of $2.50 per share; however, investors should review our risk concerns detailed at the end of this report.

About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 30 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $90,000 from the Company for 12 Research Reports with coverage commencing on 7/09/2004. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.

Source: BluePoint Energy

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