Needham & Company Reiterates a 'Buy' on UQM Technologies (UQM); Increasing EV Adoption

Needham & Company reiterates a 'Buy' on UQM Technologies (NYSE: UQM) price target lowered from $4 to $3.

Analyst, Michael Lew, said, "The quarterly results reflect increasing demand across multiple initiatives. The important near-term one, in our view, is
CODA Automotive, which is 'sold out' through July. We expect sales to trend upward as CODA increases production volumes and heavy-duty programs such as UPS through Electric Vehicles International (EVI) also generate more
meaningful revenues."

FY13 EPS estimate lowered from $0.18 to (0.01).

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 $1.14 yesterday.

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