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Maxim Group Reiterates Buy Rating, $7 PT on American Superconductor

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In a report published Monday, Maxim Group reiterated its Buy rating and $7.00 price target on American Superconductor Corporation (NASDAQ: AMSC).

Maxim Group noted, “In AMSC's FY1Q12 report on August 2, revenue remains the critical factor, in our view, given its dire need to surpass fixed costs. While we forecast FY1Q12 revenue of $27m—above guidance of $26m—we expect a pickup in the Shenyang contract to drive FY2Q12 revenue guidance past the Street at $30m. While a $7m write-down reversal should boost FY1Q12 GAAP EPS, upside to non-GAAP EPS guidance for ($0.24) is likely based on recent past. With a revenue recovery in reach, we maintain our Buy rating.”

American Superconductor Corporation closed on Friday at $3.77.

Latest Ratings for AMSC

DateFirmActionFromTo
Dec 2013Ascendiant CapitalDowngradesBuyNeutral
Jun 2013Ascendiant CapitalInitiates Coverage onBuy
Jun 2013Ascendiant CapitalInitiates Coverage onBuy

View More Analyst Ratings for AMSC
View the Latest Analyst Ratings

Posted-In: Maxim GroupAnalyst Color Reiteration Analyst Ratings

 

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