Ener1 (HEV) Rises as MDB Capital Upgrades to Buy
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MDB Capital upgrades Ener1 (NYSE: HEV) from Neutral to Buy, also raising its price target from $6 to $8.
Following Ever1's recent Q2 earnings report, the firm cites continued progress toward meaningful revenues. MDB also said that it still believes that Ener1 is building a solid pipeline of potential customers, including the possible reemergence of Think Global. The firm raised its CY10 sales guidance to $90 million.
Traders are cheering the upgrade today, bidding up shares of Ener1 by more than 6%. The stock most recently traded at $6.90.
Ener1, Inc., together with its subsidiaries, engages in developing and manufacturing rechargeable lithium-ion batteries and battery systems in the United States and South Korea.
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