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Rodman & Renshaw Maintains Outperform on Capstone Turbine after 8K Filing


Rodman & Renshaw has published a research report on Capstone Turbine (NASDAQ: CPST) after the company released an 8K that raised a total of $8.3M in funds.

In the report, Rodman & Renshaw writes, "Management indicated to us their discomfort with waiting until January to get this money on the balance sheet, given the turmoil in European financial markets. We believe that obtaining the cash using existing warrants was the right decision to ensure continued execution of capstone's current business momentum without raising additional cash. This raise gives the company the added firepower to reach operating profitability. Operating trends have been improving, and we are modeling the company to achieve positive operating cash flow of over $15M in F'2013 and to achieve profitability in that same year. We see this cash as ensuring that the company has the ability to fund their growing operations without near-term cash concerns."

Rodman & Renshaw maintains its Market Outperform rating and $2.50 price target on Capstone Turbine, which is currently trading down $0.10 from yesterday's $1.09 closing price.

Posted-In: Rodman & RenshawAnalyst Color News Financing Reiteration Analyst Ratings


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