Wedbush Maintains a 'Neutral' on Ascent Solar Technologies (ASTI); Lowers Estimates & PT
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Wedbush maintains a 'Neutral' on Ascent Solar Technologies (Nasdaq: ASTI), lowers price target from $7 to $5.50
Wedbush analyst says, "While we believe the company is making progress toward reaching full scale commercialization, we recommend investors wait for the company to reach additional manufacturing and sales milestones given the significant execution risk facing the company...We expect greater visibility into 2010 as the company will be working to simultaneously ramp manufacturing capacity and develop a customer base. We believe the company will need to raise additional capital to expand capacity beyond 30 MW...Adjusting our revenue/EPS estimates to $1.621 million/($0.86) from $2.13 million/($1.05) in 2009 and to $31.95 million/($0.47) from $28.95 million/($0.76) in 2010."
To see more analyst ratings on ASTI Click Here.
Ascent Solar Technologies, Inc. develops thin-film photovoltaic modules with substrate materials.
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