Friday, June 20, 2008

Energy Conversion Devices (NASDAQ:ENER): See 50%+ upside potential - Cowen & Co

From Notable Calls:
Cowen is out with a very positive call on Energy Conversion Devices (NASDAQ:ENER) saying they see 50%+ upside potential in the ENER share price vs. the market in 12 months and reiterate their Outperform rating.

Raising F09/10E EPS To $1.95/$3.70, Vs. Prior $1.85/$3.50. Given the apparent strong demand for the offering and recent stock performance, firm's model assumes the shoe. As it will likely take some time to deploy proceeds for the next expansion, interest on higher cash balances looks accretive in F09....

...Notablecalls: This should propel the shares towards the $80 level today....MORE