Zacks calls Evergreen Solar a Sell
Zacks is maintaining a Sell recommendation for Evergreen Solar Inc. (Nasdaq: ESLR) with a six month price target of $13. The Sell recommendation is based solely on the current valuation of ESLR.
From Zacks:
“With negative earnings and operating cash flow to date, and with this trend expected to continue into 2007, ESLR appears overdue for share price retrenchment back in-line with the company’s fundamentals. The stock also appears richly valued on the basis of relative sales and book value multiples. At 728x our full-year 2007 EPS estimate, we cannot currently recommend the stock and would advise current shareholders to take some profits”
So the price target is only about a dollar below the current price of $14.04. I personally like this stock and the whole solar energy sector but you have to find a good entry point.
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