Jefferies Maintains an 'Underperform' on American Superconductor (AMSC); Cash Burn Continues on Top of Weak Guidance

Jefferies maintains an 'Underperform' on American Superconductor (NASDAQ: AMSC) price target of $3.20 (from $4.00).

Analyst, Jesse Pichel, said, "AMSC reported an in line quarter and expect cash position to increase to $85M from $66M after proceeds from $35M loans. Sinovel law suits drag on without signs of settlement. We continue to see cash burn and lack of EBITDA breakeven in the near term and maintain our rating."

Pichel slighty raises FY12 loss from (0.79) to (0.73) and FY13 from (0.53) to (0.43).

For an analyst ratings summary and ratings history on American Superconductor click here. For more ratings news on American Superconductor click here.

Shares of American Superconductor closed at $4.05 yesterday.

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