Canaccord Genuity on Sustainability & CleanTech -- Energy & Power Technologies: Metering Europe Day 1
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Up: 5 | Down: 4 | New: 11
Rating Summary:
6 Buy, 12 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 11
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Canaccord Genuity on Sustainability & CleanTech -- Energy & Power Technologies: Metering Europe Day 1 by John Quealy
Quealy said, "While the doors have not yet officially opened at Metering Europe in Amsterdam, our initial conversations/participation has focused on several sizable European gas smart metering project opportunities. Overall, these large contract deployments still appear to be moving forward on a relatively consistent (but deliberate) schedule. Not surprisingly, at least one project looks to have a higher risk of a more moderate ramp-up (Italgas), kicking that contract off in the later 2013+ timeframe, instead of late 2012. While we continue to favor the underlying "analog to digital" cycle inherent in the smart meter market over the coming years, we still expect the pace of deployments to be relatively uneven across geographies, as heterogeneous regulatory and technical standards and economic environments drive variable timelines."
"While we expect much more news flow over the next several days, we expect the broader smart metering group to remain volatile, including: Badger Meter (NYSE: BMI)(BUY), Elster (NYSE: ELT)(BUY), EnerNOC (Nasdaq: ENOC)(BUY), Itron (Nasdaq: ITRI)(BUY), RuggedCom, Telvent (Nasdaq: TLVT)(TENDER), Echelon (Nasdaq: ELON)(HOLD) and ESCO Technologies (NYSE: ESE)(HOLD)."
Quealy said, "While the doors have not yet officially opened at Metering Europe in Amsterdam, our initial conversations/participation has focused on several sizable European gas smart metering project opportunities. Overall, these large contract deployments still appear to be moving forward on a relatively consistent (but deliberate) schedule. Not surprisingly, at least one project looks to have a higher risk of a more moderate ramp-up (Italgas), kicking that contract off in the later 2013+ timeframe, instead of late 2012. While we continue to favor the underlying "analog to digital" cycle inherent in the smart meter market over the coming years, we still expect the pace of deployments to be relatively uneven across geographies, as heterogeneous regulatory and technical standards and economic environments drive variable timelines."
"While we expect much more news flow over the next several days, we expect the broader smart metering group to remain volatile, including: Badger Meter (NYSE: BMI)(BUY), Elster (NYSE: ELT)(BUY), EnerNOC (Nasdaq: ENOC)(BUY), Itron (Nasdaq: ITRI)(BUY), RuggedCom, Telvent (Nasdaq: TLVT)(TENDER), Echelon (Nasdaq: ELON)(HOLD) and ESCO Technologies (NYSE: ESE)(HOLD)."
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