Needham & Company Maintains a 'Hold' on Valence Technology (VLNC); Quotation Activity Increased, But Outlook Bit Weaker

Needham & Company maintains a 'Hold' on Valence Technology (NASDAQ: VLNC).

Analyst, Michael Lew, said, "Although the outlook was a bit weaker than anticipated, Valence Technology’s quotation activity is increasing due to the combination of new market opportunities (such as lead acid replacement) and potential customer takeaways from A123 Systems (Nasdaq: AONE). However, an incremental sales boost has not been recognized yet and is still to be determined. We are maintaining our neutral stance on VLNC shares until financial visibility improves." (Needham adjusts FY13 loss from $0.03 to $0.05)

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

Shares of Valence Technology closed at $0.67 yesterday.

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