Wunderlich Says A123 (AONE) Will Issue Q1 Sales Outlook Well Below the Street
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Price: $8.56 --0%
Rating Summary:
3 Buy, 5 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 5 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of A123 Systems (Nasdaq: AONE) are continuing higher Monday afternoon following a more than 30 percent rally last week on the heels of a deal with VIA Motors. The stock is up nearly 1 percent to $2.12 at last check, outperforming the Dow Jones which is up about 0.3 percent.
The upside comes despite comments from Wunderlich's Theodore O'Neill who suggests the company will "very likely" guide first-quarter sales below the Street when it reports fourth-quarter results on Monday, February 27th. O'Neill believes the chances of A123 selling lithium-ion battery packs to Fisker could be "zero." The analyst calls the upside last week "wishful thinking." Instead O'Neill believes sales under the contract might not reach $1 million.
Wunderlich is currently modeling for first-quarter sales of $29.5 million. The Street consensus is now at $60.2 million.
O'Neill maintains a Hold rating and $3 price target on shares of A123.
To track all the analyst calls on shares of A123, visit our Analyst Ratings page.
The upside comes despite comments from Wunderlich's Theodore O'Neill who suggests the company will "very likely" guide first-quarter sales below the Street when it reports fourth-quarter results on Monday, February 27th. O'Neill believes the chances of A123 selling lithium-ion battery packs to Fisker could be "zero." The analyst calls the upside last week "wishful thinking." Instead O'Neill believes sales under the contract might not reach $1 million.
Wunderlich is currently modeling for first-quarter sales of $29.5 million. The Street consensus is now at $60.2 million.
O'Neill maintains a Hold rating and $3 price target on shares of A123.
To track all the analyst calls on shares of A123, visit our Analyst Ratings page.
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