Wunderlich Securities Reiterates Hold and PT of $3.50 on Ener1 (HEV)

Wunderlich Securities reiterated its Hold rating on Ener1 (NASDAQ: HEV). Its price target was also left unchanged at $3.50 as well. In a research report published today, Wunderlich stressed problems in Think Global automobile sales as the reason for its decision.

In the report, Wunderlich states, "We believe the full-year revenue estimate of $140 million may be too high given that Think Global's automobiles aren't selling in large enough quantities. We continue to rate HEV shares Hold with a $3.50 price target based on our proprietary DCF."

In Monday's trading, Ener1 lost 2.12% of its value to close the day at $2.31.