Canaccord Genuity on Energy & Power Technologies; Forum Highlights
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Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Canaccord Genuity on Energy & Power Technologies
Analyst, John Quealy, said, "We recently hosted our 5th Annual Sustainability Forum in Deer Valley, Utah. Our conference featured a number of public and private technology leaders among our Energy & Power..."
Echelon (Nasdaq: ELON)(HOLD) – While visibility remains more constrained near-term given timing of metering deployments and the bottoming of the building management market, the opportunity pipeline with ELO in Brazil and Holley (and recent inquiries from major conglomerates in Japan) are especially notable. We find Street expectations still focused on Duke (NYSE: DUK) compares in H2/12, but longer-term opportunity and pipeline into ’13 are firming.
Elster (NYSE: ELT)(BUY) - 2012 remains very much a transition year as we hosted both CFOs – incoming Ranier Beaujean and outgoing Christoph Schmidt-Wolf. In our view, we do not find it unreasonable that Japanese conglomerates at least consider Elster as a strategic partner (or investment) given the company’s core competency in electricity metering. That said, we find a focus on European electricity metering (and M&A) to be a top focus, even as restructuring actions continue through 2012.
ESCO Technologies (NYSE: ESE)(HOLD) – Execution remains strong across the
platform, as Doble continues to perform and further international expansion for that business continues to take shape through 2012. Again, we find the Japanese opportunity intact for ESCO as well given their previous engagement plans for the geography. While yet another round of CPUC scrutiny on SoCal Gas continues, initial deployment in ’13 still seems likely."
Itron (Nasdaq: ITRI)(BUY) – The return of positive momentum is very encouraging, as Itron works on several external (and inward facing) initiatives near term. Japan is very much a live opportunity here as well, especially considering the company’s history (Centron certified in Japan, #1 hand-held market share). We find the SmartSynch platform likely expanding into the muni market quickly, while quiet but continuous work on software and analytics remains a priority.
Analyst, John Quealy, said, "We recently hosted our 5th Annual Sustainability Forum in Deer Valley, Utah. Our conference featured a number of public and private technology leaders among our Energy & Power..."
Echelon (Nasdaq: ELON)(HOLD) – While visibility remains more constrained near-term given timing of metering deployments and the bottoming of the building management market, the opportunity pipeline with ELO in Brazil and Holley (and recent inquiries from major conglomerates in Japan) are especially notable. We find Street expectations still focused on Duke (NYSE: DUK) compares in H2/12, but longer-term opportunity and pipeline into ’13 are firming.
Elster (NYSE: ELT)(BUY) - 2012 remains very much a transition year as we hosted both CFOs – incoming Ranier Beaujean and outgoing Christoph Schmidt-Wolf. In our view, we do not find it unreasonable that Japanese conglomerates at least consider Elster as a strategic partner (or investment) given the company’s core competency in electricity metering. That said, we find a focus on European electricity metering (and M&A) to be a top focus, even as restructuring actions continue through 2012.
ESCO Technologies (NYSE: ESE)(HOLD) – Execution remains strong across the
platform, as Doble continues to perform and further international expansion for that business continues to take shape through 2012. Again, we find the Japanese opportunity intact for ESCO as well given their previous engagement plans for the geography. While yet another round of CPUC scrutiny on SoCal Gas continues, initial deployment in ’13 still seems likely."
Itron (Nasdaq: ITRI)(BUY) – The return of positive momentum is very encouraging, as Itron works on several external (and inward facing) initiatives near term. Japan is very much a live opportunity here as well, especially considering the company’s history (Centron certified in Japan, #1 hand-held market share). We find the SmartSynch platform likely expanding into the muni market quickly, while quiet but continuous work on software and analytics remains a priority.
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