Needham & Company Reiterates a 'Buy' on Echelon (ELON); Solid Q4 - Outlook Looks Healthy
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Price: $21.88 --0%
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 9 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 Echelon (NASDAQ: ELON) price target lowered from $11 to $9.00.
Analyst, Sean H.F. Hannan, said, "ELON continues to benefit from two large projects (Duke (NYSE: DUK) & Fortum-both N/R) while it builds its pipeline (now 3x levels a year ago) in the utility space. With management still confident in non-GAAP profitability this year, we believe cost initiatives are taking hold. Our outlook for ‘13 assumes multiple small-scale utility projects come together to offset a declining Duke as OH winds down (& no other states are approved)."
"Mar. estimates now $40M in revs. & -$0.12 (or, -$0.05 ex. opt.), vs. our prior $31.8M & -$0.19 (or, -$0.12 ex. opt.). Our ‘12 model now $169M & -$0.23 (or +$0.05 EPS) vs. prior $173M & -$0.22 (or, +$0.05)."
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.
Analyst, Sean H.F. Hannan, said, "ELON continues to benefit from two large projects (Duke (NYSE: DUK) & Fortum-both N/R) while it builds its pipeline (now 3x levels a year ago) in the utility space. With management still confident in non-GAAP profitability this year, we believe cost initiatives are taking hold. Our outlook for ‘13 assumes multiple small-scale utility projects come together to offset a declining Duke as OH winds down (& no other states are approved)."
"Mar. estimates now $40M in revs. & -$0.12 (or, -$0.05 ex. opt.), vs. our prior $31.8M & -$0.19 (or, -$0.12 ex. opt.). Our ‘12 model now $169M & -$0.23 (or +$0.05 EPS) vs. prior $173M & -$0.22 (or, +$0.05)."
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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