Jefferies Reports SATC 1Q Rev

Jefferies has issued a report on the pre-announced 1Q rev from Satcon Technology (NASDAQ: SATC).

Jefferies writes, “Satcon pre-announced lower 1Q rev of $61-63M (from prior $65-70M), ~9% below Street consensus of $67.0M due to mostly weather related push outs in Europe and NA. Importantly, there were no order cancellations and our estimates are largely unchanged.”

SATC is Buy Rated and has a $6 Price Target.

SATC closed yesterday at $3.52 a share.