J.P. Morgan Maintains Neutral on Broadwind Energy (BWEN)

J.P. Morgan is out with its report today on Broadwind Energy BWEN, maintaining Neutral.

In a note to clients, J.P. Morgan writes, "Broadwind reported C4Q10 rev/PF EPS of $47.6mn/($0.01) or slightly better than our $47.0mn/($0.03) model. The EPS beat was largely driven by a combination of higher gross margin and lower opex. With respect to guidance, Broadwind did not provide any specific 2011 metrics, but suggested C1Q11 revenue could be nearly double on a YoY basis (implies ~$40mn). Despite a decent quarter, we believe Broadwind continues to have a thin margin of error given its scale in what remains a tough wind demand environment and we maintain a Neutral rating on the shares."

Shares of BWEN closed Tuesday at $1.38.