Wednesday, August 26, 2009

Cowen’s Stone Maintains Energy Conversion Devices at OUTPERFORM (ENER)

The stock is down 1% at $12.14. From SmallCapPulse:
August 26, 2009 – Cowen’s Rob Stone weighed in on Energy Conversion Devices (Nasdaq:ENER) this morning, stating that he expects CY09 results to be challenged by low shipment volume exacerbated by bottlenecks in financing for large PV systems and deferred spending for BIPV projects. He maintains an OUTPERFORM rating on the stock and thinks stock is attractive on a 12-month basis (trading about 0.8x book value) but expects it to remain in current range in near-term. Key Takeaways· The SIT acquisition should add opportunities and deliver complete solutions...MORE