Needham & Company Reiterates a 'Buy' on Comverge (COMV); Solid 3Q Delivered; Tangible Outlook Unchanged While Opportunities Remain Healthy
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Price: $1.74 --0%
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 8
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 8
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Needham & Company reiterates a 'Buy' on Comverge (NASDAQ: COMV) price target lowered from $5 to $3.
Needham analyst says, "COMV remains vigilant working toward long-term goals of profitability as it continues efforts to build scale domestically and internationally while also structurally improving its operations. Although a capital raise remains outstanding (and crucial ahead of next year’s PJM-N/R auction), we are also becoming increasingly encouraged that COMV will secure adequate funding."
"Our prior 4Q est. of $41M and +$0.07 is now $39M and $0.04 GAAP (or, $0.09 cash). Our 2011 est. now $139M & $0.67 GAAP loss, vs. prior $139M & $0.74 loss. Our 2012 est. of $170M & $0.27 loss becomes $150M & $0.23 loss."
For an analyst ratings summary and ratings history on Comverge click here. For more ratings news on Comverge click here.
Shares of Comverge closed at $1.51 yesterday.
Needham analyst says, "COMV remains vigilant working toward long-term goals of profitability as it continues efforts to build scale domestically and internationally while also structurally improving its operations. Although a capital raise remains outstanding (and crucial ahead of next year’s PJM-N/R auction), we are also becoming increasingly encouraged that COMV will secure adequate funding."
"Our prior 4Q est. of $41M and +$0.07 is now $39M and $0.04 GAAP (or, $0.09 cash). Our 2011 est. now $139M & $0.67 GAAP loss, vs. prior $139M & $0.74 loss. Our 2012 est. of $170M & $0.27 loss becomes $150M & $0.23 loss."
For an analyst ratings summary and ratings history on Comverge click here. For more ratings news on Comverge click here.
Shares of Comverge closed at $1.51 yesterday.
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