Wedbush Comments on ADA-ES (ADES)

Wedbush was positive on ADA-ES

in a report released today. Wedbush writes, “Despite the recent share price decline of ADES due to the adverse Norit case verdict and sizeable damages claim, we are reaffirming our positive stance on shares of ADES ahead of the company's Q1 results. While we acknowledge that the adverse ruling is a near-term headwind in our investment thesis, we see limited downside risk to shares at current valuations given continued demand for refined coal and activated carbon injection (

) systems. Additionally, the growth potential in the refined coal and ACI markets, as echoed by other comparable peers in the industry, remains healthy and keeps us optimistic that the company could achieve full-year profitability by FY12. Accordingly, we are maintaining our Outperform rating on shares of ADES and would remain opportunistic buyers of the stock at current levels.” Wedbush has a rating of Outperform on the company and a price target of $21. The stock closed on Friday at $10.31.