Rodman & Renshaw Reiterates Outperform, $2.50 PT on Capstone Turbine
Rodman & Renshaw maintains its Outperform rating and $2.50 price target on Capstone Turbine (NASDAQ: CPST) as the company announces a MOU for an order equivalent to 16.2 MW.
Rodman says, “This agreement with BPC Engineering and Tatneft Oil is for 38 microturbines totaling 16.2MW over a two year period, for use in a variety of gas-to-energy projects. There is also an option for the purchase of up to an additional 20MW under the same terms, if the order is placed prior to December 31, 2012.”
CPST closed at $1.04 per share on Wednesday.
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