Wunderlich Continues Positive Outlook for BTU International

Wunderlich Securities believes BTU International's (NASDAQ: BTUI) success in the solar business could lead to long-term positive structural changes in revenue growth.

Wunderlich thinks BTU International's electronic customers are adding capacity that they did not add in 2009. Wunderlich also feels that nuclear and reactor demand in the U.S. and China is already affecting fuel rod demand, adding a long-cycle growth component.

Excluding cash of $2.04 per share, the shares trade at a P/E of 4.8x based on Wunderlich's 2011 EPS estimate of $0.56.

As of 4:07PM EDT BTU International is up $0.27.