Cowen Initiates Ener1 (AMEX:HEV) at Neutral
Source: http://feeds.feedburner.com/~r/smallcappulse/feed/~3/419520524/Posted on Monday, October 13th, 2008 | In Small & Micro Cap
Contributed by: Small Cap Pulse (http://www.smallcappulse.com/index.php/blog/detail/) -
October 13, 2008 – ANALYST NOTE: Cowen & Company’s Raj Seth initiated coverage this morning on Ener1 (AMEX:HEV), an emerging supplier of next gen lithium-ion batteries for hybrid electric and electric vehicles. Smith noted that Ener1 will be a benefactor of an exploding market for hybrid/electric cars over the next decade, and is well positioned with its initial contract to supply batteries to Think, one of the more advanced EV suppliers. But he also noted that Ener1 will require additional capital soon and he is looking for more traction in the business “before getting more constructive on the shares” which are trading 6x its 2010 revenue forecast.
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