Dominick & Dominick Reiterates Buy Rating, $14 PT on Acorn Energy on Variable Valuation

In a report published Monday, Dominick & Dominick reiterated its Buy rating and $14.00 price target on Acorn Energy

. Dominick & Dominick noted, “Valuation has a large degree of variability associated with it. Both USSI and GridSense are chasing multiple large deals which could result in valuations over $100 million for each, and would be consistent with sales of prior company properties, Comverge and CoaLogix. This, as well as modest estimates of the value of Omnimetrix and DSIT, plus the $40 million in cash, yields a price target of $14 per share. Risks to achieving this target include lack of success on USSI's product development, delays in deployments for GridSense, difficulty integrating the Omnimetrix acquisition and delays in DSIT's order book.” Acorn Energy closed on Friday at $7.15.