Wedbush Morgan Initiates Coverage of Energy Conversion Devices (ENER) with a Buy
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Wedbush Morgan initiates coverage of Energy Conversion Devices (Nasdaq: ENER) with a Buy rating and a $62 price target.
Wedbush analyst says, "Leading provider of flexible panels manufactured using a proprietary roll-to-roll process. Flexible PV laminates readily adaptable for integration into various roofing products driving lower installation and system cost...Operating model taking hold yet significant margin expansion remains...Estimating revenues and EPS estimates of $482 million and $1.70, $655 million and $3.30 and $790 million and $4.59 for FY09, FY10 and FY11, respectively."
Energy Conversion Devices, Inc. (ECD) commercializes materials, products and production processes for the alternative energy generation, energy storage and information technology markets.
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