Goldman Sachs Upgrades A123 Systems (AONE) to Buy, Sees 63% Upside

Goldman Sachs upgraded A123 Systems (NASDAQ: AONE) from Neutral to Buy with a $9 price target, suggesting 63 percent upside. The firm cited "better than 2:1 risk/reward" for its rating change.

Goldman's analyst said the market is "discounting just the current chapter of the story, although specific catalysts that improve revenue visibility lie two-to-six months on the horizon."

Goldman sees for key near-term catalysts: (1) initial Fisker sales, (2) announcement of the major OEM partner for battery systems on a global auto platform, (3) a new CFO bringing increased transparency, and (4) announcement of a Department of Energy ATVM loan commitment.

For more ratings news on A123 Systems click here and for the rating history of A123 Systems click here.

Shares of A123 Systems closed at $5.51 yesterday.

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