Cantor Fitzgerald Positive on Satcon Technology (SATC) After Investor Update; Suggests Accumulating Shares at Current Levels

Cantor Fitzgerald maintains a 'Buy' on Satcon Technology (NASDAQ: SATC) price target of $3.00.

Analyst, Dale R. Pfau, said, "The company now expects revenues of $22-$25 million, compared with prior guidance of $22-$28 million and our estimate of $23.4 million. Considering the company started the quarter with only $23.1 million in backlog, this is an admirable accomplishment. Even better, the company said that bookings were approximately $45 million, up 130% sequentially and up 27% y-y. We estimate this is approximately 180 MW. This is the best bookings quarter since 4Q:10. We believe that bookings included only about $3-$4 million from Asia and the rest from North America. The company had previously disclosed a proposal pipeline of 2.5 GW, and we believe that activity remains very high."

For an analyst ratings summary and ratings history on Satcon Technology click here. For more ratings news on Satcon Technology click here.

Shares of Satcon Technology closed at $0.48 yesterday.

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