Targeting the so-called clean technology companies in the United States, Barclays (NYSE:BCS) iniatiated coverage on Clean Energy Fuels Corp. (Nasdaq:CLNE) and Codexis, Inc. (Nasdaq:CDXS), while saying their key pick in the electric vehicle segment is A123 Systems (Nasdaq:AONE).
Barclays said, "We remain constructive on the longer-term growth prospects of three alternative fuel technologies - natural gas, biofuels and electric vehicle batteries. In this report, we examine the outlook for these emerging alternative fuel technologies...We expect the market for alternative fuels to grow from $195 billion today to nearly $675 billion by 2030 owing to favorable government policies, technological advances and cost reduction. We expect the three alternative fuel technologies to both complement and compete with each other. In the near term, we believe significant investment opportunities exist in the natural gas segment.
"Our key pick in the electric vehicle segment is A123 Systems (Nasdaq:AONE). We expect the market for lithium-ion batteries to increase from around $2 billion currently to more than $50 billion by 2020 and to potentially exceed $100 billion by 2030 as supportive government legislation and accelerated cost reductions make electric vehicles attractive in several regions of the world."
Clean Energy was started off with an "Equalweight" rating. They closed Thursday at $14.33, losing $0.43, or 2.91 percent. They have a price target of $16 on them.
Codexis, Inc. was also started off with an "Equalweight." They closed at $8.87 Thursday, losing $0.37, or 4.00 percent. They have a price target of $11 on them.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment