Needham & Company Reiterates a 'Buy' on Comverge (COMV); Lands Eskom Pilot & Boosts Path Toward Profitability
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Price: $1.74 --0%
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Comverge (NASDAQ: COMV) price target of $3.00.
Needham analyst says, "COMV received a notable boost as it targets profitability through yesterday’s announcement that the DR provider was selected by Eskom (the first international win) for a particularly large pilot. We believe the pilot was not previously factored into COMV’s prior goals to near breakeven in ’12 and suspect the program could drive the model to at least achieve the target, if not over the line into positive non-GAAP territory."
"No changes to estimates at present, but we are gaining confidence that ’12 revenues could approach $175M+ (as much of the contract will be realized in 2012) and the non-GAAP EPS opportunity may now be in the breakeven to $0.07 range."
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 $1.14 yesterday.
Needham analyst says, "COMV received a notable boost as it targets profitability through yesterday’s announcement that the DR provider was selected by Eskom (the first international win) for a particularly large pilot. We believe the pilot was not previously factored into COMV’s prior goals to near breakeven in ’12 and suspect the program could drive the model to at least achieve the target, if not over the line into positive non-GAAP territory."
"No changes to estimates at present, but we are gaining confidence that ’12 revenues could approach $175M+ (as much of the contract will be realized in 2012) and the non-GAAP EPS opportunity may now be in the breakeven to $0.07 range."
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 $1.14 yesterday.
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