Oppenheimer Starts Ideal Power At Outperform

  • Ideal Power Inc IPWR shares are down 20 percent since April 22, and have mostly remained below $8 since mid-July.
  • Oppenheimer’s Colin Rusch initiated coverage of the company with an Outperform rating and a price target of $17.
  • The company appears well positioned for steady and profitable growth for the next 5 to 7 years, Rusch mentioned.

Analyst Colin Rusch said that Ideal Power is an intellectual property play in energy storage and power management. He believes that the company is poised for steady and profitable for the next 5 to 7 years, given its industry-leading energy storage and microgrid products.

Ideal Power has developed a silicon based, bidirectional, insulated-gate bipolar transistor, or IGBT. This is now approaching commercialization, which has the power to “change the course of the company.” It could spell a significant leap forward in the IGBT market, which is estimated at $8 billion.

Ideal Power could gain share in almost any power management application, given the possible commercialization of its bi-directional silicon IGBT technology. Rusch expects the company’s addressable market to grow by about 10 percent annually for the next five years.

“We apply a 4x revenue multiple of 2019E revenue of $60M to reflect the company’s unique IP position and high growth opportunity,” the analyst wrote.

Posted In: Colin RuschOppenheimerAnalyst ColorInitiationAnalyst Ratings

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.