AKNS Gets LOWE’s Big Box Store Spot
Analyst Theodore O'Neill of Kaufman Brothers maintains his "hold" rating on Akeena Solar Inc (NASDAQ: AKNS)(FREE stock trend analysis).
AKNS has secured a spot to sell solar panels at Lowe’s (NYSE: LOW)(FREE stock trend analysis). This marks Akeena Solar’s success in entering into the big-box market for do-it-yourselfers, the analyst says. AKNS is expected to benefit significantly from markets such as California, where electricity rates are too high.
Lowe's has set up 21 stores in California to test the market for homeowners to build out and manage electricity in their homes. AKNS is expected to establish its footprint in these markets before significant competition comes in, the analyst says. The company’s balance sheet and inventory turnover are inline with industry standards, according to Kaufman Brothers.
