Goldman Sachs Research Summary (MAR 20, 2007)

From 247WallSt

Earnings estimates RAISED for Ballard Power (Nasdaq: BLDP), Cabot Oil & Gas (NYSE: COG), Fuel Tech (Nasdaq: FTEK), Southwestern Energy (NYSE: SWN), Ultrapar (NYSE: UGP), Westar Energy (NYSE: WR).

Earnings estimates DECREASED for Chesapeake Energy (NYSE: CHK), Evergreen Energy (AMEX: EEE), Evergreen Solar (Nasdaq: ESLR), Forest Oil (NYSE: FST), Newfield Exploration (NYSE: NFX), Pertobras Energia ADR (NYSE: PZE), Petroleo Brasiliero (NYSE: PBR), Pogo Producing (NYSE: PPP), Reliant Energy (NYSE: RRI), Norte (NYSE: NT), Fuel Cell (Nasdaq: FCEL), Noble Energy (NYSE: NBL), Questar (NYSE: STR).

Goldman Sachs says that right now is a great time to BUY Flextronics (Nasdaq: FLEX) because of the pullback and now at an 11% discount to the coverage universe. It also believes that recent and prospective contract wins lend confidence to a 10% to 15% revenue growth. It also sees it improving in handsets, a key part of its growth strategy, winning from the likes of recent Qualcomm guidance. Goldman Sachs sees a 27% upside based on its $14.00 target.

Maintains NEUTRAL rating on Alternative Energy sector to those with tangible economic results: Evergreen Solar (Nasdaq: ESLR), Fuel Tech (Nasdaq: FTEK), Evergreen Energy (NYSE: EEE), and Fuel Cell (Nasdaq: FCEL) all maintained neutral.

Goldman Sachs maintained negative pricing pressure and negative product mix in Q1 on Nortel Networks (NYSE: NT).

Qualcomm (Nasdaq: QCOM) defended after recent lawsuit news because it views the 2.9% cut to the royalty rates and the 21% cut to the annual CDMA market as unlikely scenarios; maintained Buy/Attractive.

eBay (Nasdaq: EBAY) maintained Buy/Attractive based on Year-to-Date item listings.

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