Wachovia Initiates Capstone Turbine (CPST) with an Outperform

July 10, 2008 8:13 AM EDT
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Wachovia initiates coverage on Capstone Turbine (NASDAQ: CPST) with an Outperform rating and a $4.80 to $5.40 valuation range.

The firm said, "Thanks to rising energy prices, growing environmental concerns, and an increasingly unreliable power grid, we see strong growth prospects for the global use of distributed generation (DG). In our view, Capstone's microturbines represent some of the best DG products available. With the introduction of its new, larger (C200 and C1000) units, we believe Capstone is well positioned to take a sizeable share of the market for DG products in the 30kW to 1-10MW range."

Capstone Turbine Corporation, headquartered in Chatsworth, California, is a leading manufacturer of low-emission mictroturbine systems.

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