Needham & Company Maintains a 'Buy' on UQM Technologies (UQM); Potential Customer on The Horizon?

Needham & Company maintains a 'Buy' on UQM Technologies (NYSE: UQM) price target of $4.00.

Analyst, Michael Lew, said, "In our view, Fisker Automotive could possibly become another high profile customer within the UQM portfolio. Recently appointed Fisker CEO LaSorda and UQM CEO Ridenour were executive teammates at DaimlerChrysler. Given that their relationship appears solid, and given the suitability of UQM’s technology to Fisker’s product, we believe there could be a potential opportunity for UQM with Fisker (possibly with the P- platform mainstream offering, still in the design stage). With Coda Automotive commencing commercial production of its high performance electric vehicle, UQM should financially benefit as a supplier of electric motors."

For an analyst ratings summary and ratings history on UQM Technologies click here. For more ratings news on UQM Technologies click here.

Shares of UQM Technologies closed at $1.73 yesterday.

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