Piper Jaffray Upgrades Energy Conversion Devices (ENER) to Buy
ENER Hot Sheet
Rating Summary:0 Buy, 1 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Piper Jaffray & Co. upgrades Energy Conversion Devices (Nasdaq: ENER) from Neutral to Buy and raised its price target $25 to $33, citing strength in Europe, U.S. legislation, and less pronounced ASP declines.
Piper analyst says, "We upgrade shares of ENER to BUY for three primary reasons: 1) greatest exposure to strength in France and Italy; 2) prime beneficiary of pending US federal/state legislation; and 3) ASP declines are less pronounced than anticipated. We introduce our CY10 EPS estimate of $2.95 and increase our PT to $33. Although we anticipate the stock will appreciate in 12 months, we caution investors that there may be weakness/volatility near term because a) other solar companies are likely to report poor results for the next two weeks; and b) the recent appreciation of solar stocks may be more attributable to short covering than long-term investing. ENER will present at our 4th Annual Piper Jaffray Cleantech Conference on Feb 19th."
Energy Conversion Devices, Inc. (ECD) commercializes materials, products and production processes for the alternative energy generation, energy storage and information technology markets.
Piper analyst says, "We upgrade shares of ENER to BUY for three primary reasons: 1) greatest exposure to strength in France and Italy; 2) prime beneficiary of pending US federal/state legislation; and 3) ASP declines are less pronounced than anticipated. We introduce our CY10 EPS estimate of $2.95 and increase our PT to $33. Although we anticipate the stock will appreciate in 12 months, we caution investors that there may be weakness/volatility near term because a) other solar companies are likely to report poor results for the next two weeks; and b) the recent appreciation of solar stocks may be more attributable to short covering than long-term investing. ENER will present at our 4th Annual Piper Jaffray Cleantech Conference on Feb 19th."
Energy Conversion Devices, Inc. (ECD) commercializes materials, products and production processes for the alternative energy generation, energy storage and information technology markets.
You May Also Be Interested In
- UPDATE: Williams Financial Group Upgrades Semtech Corp. (SMTC) to Buy; Check Again...Quarter Was Fairly Strong
- UPDATE: UBS Upgrades Assured Guaranty (AGO) to Buy; Opportunity Opens After Recent Dip on Moody's Review
- UPDATE: UBS Upgrades Westlake Chemical (WLK) to Neutral; Fairly Valued Now
Create E-mail Alert Related Categories
UpgradesRelated Entities
Piper Jaffray, CitiSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
