UPDATE - Wedbush Upgrades Energy Recovery (ERII) to Neutral; Off the Bottom, But Are Investors Waiting For A Suitor?
Tweet
Share
E-mailGet Alerts ERII Hot Sheet
Price: $7.90 +1.94%
Rating Summary:
10 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
UPDATE - Wedbush upgrades Energy Recovery (Nasdaq: ERII) from Underperform to Neutral. PT lowered from $2.50 to $2.00.
Analyst, David L. Rose, said, "We believe the company is finally on the mend after a protracted slump in large scale desalination. While we do not expect a meaningful earnings recovery for some time, the worst appears to behind the company given the substantial organizational restructuring and recent awards...In our view, the shares are still generously valued and offer little upside from here, but we believe investor sentiment will likely be less negative given the strengthening of the company’s business."
"In our view, there is a better place for cash. We believe many optimistic investors are waiting for an eventual sale of the company. Although ERII could be a good fit for a number of companies given substantial losses and only modest earnings potential for a number of years, in our opinion a large take out premium would seem unwarranted. We estimate the company will generate approximately $3.5 million in EBITDA in 2013."
To see more ratings on ERII, Click Here
Analyst, David L. Rose, said, "We believe the company is finally on the mend after a protracted slump in large scale desalination. While we do not expect a meaningful earnings recovery for some time, the worst appears to behind the company given the substantial organizational restructuring and recent awards...In our view, the shares are still generously valued and offer little upside from here, but we believe investor sentiment will likely be less negative given the strengthening of the company’s business."
"In our view, there is a better place for cash. We believe many optimistic investors are waiting for an eventual sale of the company. Although ERII could be a good fit for a number of companies given substantial losses and only modest earnings potential for a number of years, in our opinion a large take out premium would seem unwarranted. We estimate the company will generate approximately $3.5 million in EBITDA in 2013."
To see more ratings on ERII, Click Here
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- CoStar Group acquires Zonda for $800M, adding new home data
- Zurn Water Solutions (ZWS) Reiterated at Buy by Stifel on New Product Development Momentum
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT Change, Mergers and Acquisitions, RumorsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
