FBR Capital Starts Ideal Power (IPWR) at Outperform; Sees 100% Upside
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FBR Capital initiates coverage on Ideal Power (NASDAQ: IPWR) with a Outperform rating and a price target of $8.00.
Analyst Carter Driscoll commented, "Using its patented Power Packet Switching Architecture (PPSA), Ideal's products enable bi-directional conversion of electrical energy from any port to any port and eliminate a number of passive components, delivering a more functional, lower-cost power conversion architecture. Our investment thesis centers on (1) providing a disruptive technology platform for power conversion systems (PCS) using a unique, patented technology architecture that is cheaper, more flexible, and more efficient than competing solutions; (2) the very large addressable market opportunity within PCS for energy storage and other end markets; (3) growing partnerships with system integrators and turnkey storage providers that reduce time to market and capital requirements; (4) international expansion, in particular in Germany and Australia; and (5) longer term, other revenue opportunities such as licensing its emerging power switch technology."
Shares of Ideal Power closed at $4.02 yesterday.
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