Jefferies Lowers Numbers on Echelon (ELON), Keeps Buy Rating
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Price: $21.88 --0%
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Jefferies lowered estimate and its price target on Echelon (NASDAQ: ELON) from $9.50 to $8 but reiterated their Buy rating following Q4 and FY11 results.
The firm comments, "ELON finished FY11 with revenue up 41% and a smaller-than-expected loss on improved opex controls. Mgmt reiterated their commitment to FY12 non-GAAP profitability, but was cautious on macro-related headwinds for new European contracts. We think FY12 is fairly secure with the Duke and Fortum deployments, but would keep an eye out for definitive new awards. ELON will present at the Jefferies Cleantech Conference on Feb. 22."
FY12 EPS was cut from ($0.22) to ($0.23) and FY13 from ($0.06) to ($0.10).
For an analyst ratings summary and ratings history on Echelon click here. For more ratings news on Echelon click here.
Shares of Echelon closed at $6.15 yesterday.
The firm comments, "ELON finished FY11 with revenue up 41% and a smaller-than-expected loss on improved opex controls. Mgmt reiterated their commitment to FY12 non-GAAP profitability, but was cautious on macro-related headwinds for new European contracts. We think FY12 is fairly secure with the Duke and Fortum deployments, but would keep an eye out for definitive new awards. ELON will present at the Jefferies Cleantech Conference on Feb. 22."
FY12 EPS was cut from ($0.22) to ($0.23) and FY13 from ($0.06) to ($0.10).
For an analyst ratings summary and ratings history on Echelon click here. For more ratings news on Echelon click here.
Shares of Echelon closed at $6.15 yesterday.
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