UPDATE - Wunderlich Securities Downgraded A123 Systems (AONE) to Sell; Impact From Fisker's Loss of DoE Funding
AONE Hot Sheet
Rating Summary:2 Buy, 6 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
UPDATE - Wunderlich Securities downgraded A123 Systems (NASDAQ: AONE) from Hold to Sell, price target lowered from $3.00 to $0.50.
Analyst, Theodore O’Neill, saw the DoE's suspension of funding to Fisker as a 'doomsday' scenario for A123, saying the company may wind up like 'another Solyndra-style bankruptcy...'
According to reports on Feb. 7, 2012, once Fisker was notificed that funds stopped from the Dept of Energy, the car-maker stopped production at it's Wilimington, DE plant, laying off 26 people. The company is also looking to make cuts at its Anaheim, California location.
However, not all's gone...yet...reports go on to say that Fisker has pursued other channels of financing and has already received $260 million from private equity firms in 2011.
NOTE - Fisker has received $193 million of the $529 million DOE loan, mostly for work on its Karma model.
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Analyst, Theodore O’Neill, saw the DoE's suspension of funding to Fisker as a 'doomsday' scenario for A123, saying the company may wind up like 'another Solyndra-style bankruptcy...'
According to reports on Feb. 7, 2012, once Fisker was notificed that funds stopped from the Dept of Energy, the car-maker stopped production at it's Wilimington, DE plant, laying off 26 people. The company is also looking to make cuts at its Anaheim, California location.
However, not all's gone...yet...reports go on to say that Fisker has pursued other channels of financing and has already received $260 million from private equity firms in 2011.
NOTE - Fisker has received $193 million of the $529 million DOE loan, mostly for work on its Karma model.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
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