Wedbush Morgan Initiates Coverage of Ascent Solar Technologies (ASTI) with a Hold
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Wedbush Morgan initiates coverage of Ascent Solar Technologies (Nasdaq: ASTI) with a Hold rating and $5.50 price target.
Wedbush analyst says, "CIGS manufacturing technology supports long-term prospects in high-end specialty markets. CIGS roll-to-roll manufacturing enables product use in various applications including BIPV, EIPV, and solar panels...Potential acquisition target by strategic partner or new market entrant. Provides interesting long-term investment but significant hurdles remain in the near-term...Expect share price to remain range bound until significant strides toward profitability are visible."
Ascent Solar Technologies, Inc. (Ascent) is a development stage company formed to commercialize flexible photovoltaic (PV) modules using technology developed by ITN Energy Systems, Inc. (ITN)
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