Piper Jaffray Downgrades Energy Recovery (ERII) to Neutral
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Piper Jaffray downgrades Energy Recovery, Inc. (Nasdaq: ERII) from Overweight to Neutral and removed the stock from their Alpha List, following disappointing 2Q results and FY09 guidance.
The firm commented, While we remain firm believers in the long-term global opportunity in desalination, we believe ERII shares are unlikely to outperform until project delay issues are resolved.
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