After figures from the third-quarter were released, it appears margins for Advanced Battery Technologies (NASDAQ:ABAT) are poised to rise in the fourth quarter and forward, as operating expenses were lowered at the company.
Olympia Capital Markets said, "We are lowering our operating expense expectations in light of the third quarter figures. On that basis, we are raising our EPS estimates for the fourth quarter from $0.12 to $0.16, for the full year 2010 from $0.44 to $0.53, and for full year 2011 from $0.52 to $0.60. We continue to believe the shares would be reasonably priced at 10 times estimated 2011 earnings plus its current cash position, now $1.06 per share."
A "Buy" rating is maintained on Advanced Battery by Olympia, which closed Tuesday at $4.02, falling $0.03, or 0.74 percent. Olympia has a price target of $7 on them raising it from $6 a share.
No comments:
Post a Comment