Wednesday, November 11, 2009

Pacific Crest’s Bachman Comments on A123 Q3 Results - Rates SECTOR PERFORM (AONE)

The stock is trading down forty-eight cents at $17.50.
From SmallCapPulse:
Analyst Comments - Pacific Crest’s Mark Bachman commented on A123 Systems’ Q3 financial results this morning, noting that the results were “solid” and there is no change to his long-term thesis. He rates the stock at SECTOR PERFORM....

...Bachman’s Key Takeaways

· “The loss of ($1.78) per share looks much worse than our estimate of ($0.20), but all but $0.03 of the miss was driven by a share-count discrepancy.

· A123 is confident about Chrysler, but the implications are not clear yet. Bachman thinks timing and volume of battery shipments to Chrysler are uncertain and present significant risk to A123.

· A123 continues to build a solid pipeline of transportation customers, which could lead to volume orders and share catalysts