Wunderlich Securities Initiates Coverage on SatCon Technology (SATC) with a Buy
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Wunderlich Securities initiates coverage on SatCon Technology (Nasdaq: SATC) with a Buy. Price target $4.
Wunderlich analyst says, "Target market could double in next three years. SatCon's target market should average about 25% annual growth through 2010 as utilities and private enterprise increasingly adopt photovoltaic systems for their electricity generation needs. Government data indicates the imposition of renewable portfolio standards on U.S. electric utilities could result in market growth in excess of 35% per year through 2015...Accelerating growth may require external capital. We believe the company's balance sheet can support current growth outlook. The market appears so large, dynamic, and rapidly growing, that unforeseen opportunities may present themselves that require external financing. It is highly unlikely the company would finance with the stock price at its current price, however."
To see more analyst ratings on SATC Click Here.
SatCon Technology Corporation (SatCon) is a clean energy technology provider of utility grade power solutions for the renewable and distributed energy markets.
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