Cantor Fitzgerald Raises SatCon Technology Price Target (SATC)

Following another "strong bookings quarter," Cantor Fitzgerald raised SatCon Technology's SATC price target to $5.25 from $5 today. Cantor Fitzgerald reiterated its Buy rating on the stock. SatCon Technology reported a 2Q operating loss of $0.07 per share on revenues of $27.6 million, compared with Cantor Fitzgerald estimates of ($0.03) on $28 million. Cantor Fitzgerald analysts comment that "Company revenue guidance for the remainder of the year was well beyond even our bullish estimates and we expect the company will reach operating profitability in the third quarter." Further, Cantor Fitzgerald notes that a bullish outlook in North America and China "plays to the strength of SatCon, as we believe they are very well positioned to grow share in the fastest growing geographies in the coming years." Satcon Technology Corporation is a clean energy technology provider of utility grade power solutions for the renewable and distributed energy markets. Shares are 5% lower today, to $3.50.