Needham & Company Reiterates a 'Buy' on Valence Technology (VLNC); Multiple Catalysts On The Horizon

Needham & Company reiterates a 'Buy' on Valence Technology (NASDAQ: VLNC), PT $4.

Needham analyst says, "The addition of six members to the National Clean Fleets Partnership (NCFP) should benefit Valence Technology. In our view, the lack of news is negatively impacting VLNC shares. We believe this is a good entry point for investors as there could be multiple catalysts on the horizon. They could include (i) visibility into ‘breakeven’ when the company reports FY1Q12 earnings; (ii) a formal announcement of a supply agreement with UPS (N/R) and, (iii) resolution of the ongoing litigation with Phostech Lithium."

For more ratings news on Valence Technology click here and for the rating history of Valence Technology click here.

Shares of Valence Technology closed at $1.03 yesterday.

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