Wedbush Analyst Craig Irwin backed his "Outperform" rating and $16 price target for the company, saying that its stock is attractive investment at its current price.
"We believe full-year guidance remains conservative, as it implies a lower fourth-quarter revenue range than the currently guided third-quarter range," Irwin wrote in a note to investors.
Baird's J. Michael Horwitz Jr. backed his $13 price target for the company.
"While premium to our comps, we think it's warranted due to upcoming catalysts and continued commercialization of Echelon's new technologies," Horwitz wrote in a note
Smart money know it is a 16$ stock..we may have a few days with selling pressure, but on the long run will see 16$ and more. This is the first time since 2008 that analyst call the stock a sweet sixteen.
We might see elon digress somewhat because of the US being down graded by Standard and Poor's this weekend. Our government is giving us another opportunity for cheap shares. So before you say again 'it was Bush's fault' (even for the possibly of cheaper elon stock) please note the following.
Budgets do not come from the White House. They come from Congress and the party that controlled Congress since January 2007 was the Democratic Party.
Furthermore, the Democrats controlled the budget process for FY 2008 and FY 2009 as well as FY 2010 and FY 2011.
In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.
For FY 2009 though, Nancy Pelosi and Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the FY 2009 budgets.
And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete FY 2009.
If the Democrats inherited any deficit, it was the FY 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the third straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.
If Obama inherited anything, he inherited it from himself.
In a nutshell, what Obama is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th.
Don't reply to this post. I don't give a rat's behind what you think.
Just consider taking this opportunity to buy more cheap shares.
I just hope this stock gets going sometime before our self-serving Congress bankrupts our country by not cutting the spending.
Ahoy....Captain stop smoking the tea.It leads to dowgrades.Republican Admenistrations have always left huge deficets.Check out your history.Think Reagon.Just a small little 4 trillion in 1988 dollars.And on and on.Safe Nuclear power will wipe mankind in the end.Don't worry.