Needham & Company Maintains a 'Hold' on A123 Systems (AONE); Slashing Estimates As Road Gets Tougher
Tweet Send to a FriendGet Alerts AONE Hot Sheet
Price: $0.12 --0%
Rating Summary:
2 Buy, 6 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
2 Buy, 6 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade AONE Now!
Needham & Company maintains a 'Hold' on A123 Systems (NASDAQ: AONE).
Analyst, Michael Lew, said, "FY1Q12 financial results were in line with the pre-released downward revision. The bumpy road that we see ahead of
A123 Systems reflects the battery recalls impacting five customers and leaves the current transportation customer base (includes BMW) exposed to competitors on firmer financial footing such as Johnson Controls, LG Chem and SB LiMotive. In addition, the retention of a strategic advisor highlights the challenges and uncertainty currently in front of A123 Systems."
Needham slashes FY12 EPS estimates from (1.28) to (1.87) and FY13 from (1.04) to (1.11). FY12 revs cut from $204.4 mln to $100.0 mln and FY13 from $415.6 mln to $200 mln.
For an analyst ratings summary and ratings history on A123 Systems click here. For more ratings news on A123 Systems click here.
Shares of A123 Systems closed at $0.96 yesterday, with a 52 week range of $0.82-$6.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Michael Lew, said, "FY1Q12 financial results were in line with the pre-released downward revision. The bumpy road that we see ahead of
A123 Systems reflects the battery recalls impacting five customers and leaves the current transportation customer base (includes BMW) exposed to competitors on firmer financial footing such as Johnson Controls, LG Chem and SB LiMotive. In addition, the retention of a strategic advisor highlights the challenges and uncertainty currently in front of A123 Systems."
Needham slashes FY12 EPS estimates from (1.28) to (1.87) and FY13 from (1.04) to (1.11). FY12 revs cut from $204.4 mln to $100.0 mln and FY13 from $415.6 mln to $200 mln.
For an analyst ratings summary and ratings history on A123 Systems click here. For more ratings news on A123 Systems click here.
Shares of A123 Systems closed at $0.96 yesterday, with a 52 week range of $0.82-$6.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
- UPDATE: Vanda Pharmaceuticals (VNDA) Opens Higher; Lazard Raises PT to $17
- Deutsche Bank Downgrades TRW Automotive Holdings (TRW) to Hold
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & Company, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
