Needham & Company Reiterates a 'Buy' on Comverge (COMV); Announces Positive Preliminary June Quarter & New Cost Reduction Plan
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Price: $1.74 --0%
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
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Needham & Company reiterates a 'Buy' on Comverge (NASDAQ: COMV) price target of $7.00.
Needham analyst says, "Comverge’s positive preliminary results provide a glimpse of what PJM revenues could be for the year. But, more importantly, they provide hints toward the level of business that is slowly starting to layer in as a consequence of wins that were generally announced in 2010. In general, we believe COMV should continue to improve its top-line at a healthy doubledigit clip into 2012, when international contributions may actually materialize and the crossover into profitability becomes a real opportunity...Our 2Q estimates become $32M & loss of $0.28, vs. prior $22M & loss of $0.38. Our 2011 estimates now $145M & loss of $0.57, vs. prior $142M & loss of $0.58."
For more ratings news on Comverge click here and for the rating history of Comverge click here.
Shares of Comverge closed at $2.99 yesterday.
Needham analyst says, "Comverge’s positive preliminary results provide a glimpse of what PJM revenues could be for the year. But, more importantly, they provide hints toward the level of business that is slowly starting to layer in as a consequence of wins that were generally announced in 2010. In general, we believe COMV should continue to improve its top-line at a healthy doubledigit clip into 2012, when international contributions may actually materialize and the crossover into profitability becomes a real opportunity...Our 2Q estimates become $32M & loss of $0.28, vs. prior $22M & loss of $0.38. Our 2011 estimates now $145M & loss of $0.57, vs. prior $142M & loss of $0.58."
For more ratings news on Comverge click here and for the rating history of Comverge click here.
Shares of Comverge closed at $2.99 yesterday.
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