Zacks Investment Research downgraded shares of XZERES Corporation (XPWR) from OUTPERFORM to NEUTRAL on June 18, 2012, with a target price of $0.50.
XZERES is positioned to benefit from the growth of the small wind energy industry. Despite an impressive backlog, the company experienced an interruption in its sequential quarterly revenue growth due to the inability to source components for small wind systems. However, the recently announced purchase order debt financing agreement should provide the company the ability to fill current orders in the company's backlog. Though management expects to generate revenues of at least $20 million during fiscal 2013, we are lowering our rating to Neutral and our price target to $0.50 until revenue traction is demonstrated.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on XZERES Corporation (XPWR),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment