Needham & Company Upgrades UQM Technologies (UQM) to Buy; Better Financial Times Ahead

Needham & Company upgraded UQM Technologies (NYSE: UQM) from Hold to Buy with a price target of $4.00.

Needham analyst says, "We are upgrading UQM shares to a Buy rating as the commencement of volume production of electric motors for Coda Automotive suggests better financial times are ahead for UQM Technologies. The company is also involved in other initiatives with Audi and Electric Vehicles International (EVI) that could provide a revenue boost in upcoming quarters. We would not be surprised if the stock retraced toward price levels consistent with Coda’s initial pre-launch days in mid-2010 when the stock price was over $4 per share."

For more ratings news on UQM Technologies click here and for the rating history of UQM Technologies click here.

Shares of UQM Technologies closed at $1.89 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Coherent (COHR) PT Raised to $420 at Needham
• TSS Inc (TSSI) PT Lowered to $13 at Needham
• Needham Reiterates Buy Rating on WhiteFiber Inc (WYFI)