Uncertain Pricing For American Superconductor (AMSC) Shares
American Superconductor Corp (NASDAQ: AMSC) shares have been pricing in some uncertainty in recent trading. However, Wunderlich Securities rates the company a Buy.
In a research report Wunderlich Securities writes, "Shares appear to be pricing in some uncertainty, though we believe there is simply a lack of useful information. We've recently been able to identify the revenue growth rate of AMSC's largest customer and it matches almost exactly with what AMSC experienced in calendar 2009 (we can't match up the growth rate in 2008 over 2007 because the wind turbine business came in through acquisition in 2007). We also show that the growth AMSC has seen in the wind turbine business is coming at the expense of the big household wind turbine names. It has cash of $3.09 per share and no debt; we rate the shares a Buy with a $50 price target.
Shares of AMSC closed Wednesday at $30.94
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