Battery Metals

Bloomberg reported that shares of A123 Systems Inc. (NASDAQ:AONE) inched down after a Goldman Sachs analyst, Mark Wienkes, downgraded the company.

Bloomberg reported that shares of A123 Systems Inc. (NASDAQ:AONE) inched down after a Goldman Sachs analyst, Mark Wienkes, downgraded the company.

As quoted in the market news:

Late Monday, analyst Mark Wienkes downgraded A123 to “Sell” from “Neutral,” saying the company is likely to need more cash in the next 12 to 15 months, as the ramp-up in sales of car batteries is going slower than expected. Some of that cash could come from its recently established credit line, he said. He put a $2.50 price target on the stock, down from $5.
Last week, General Motors said A123 will supply the battery for an all-electric version of the Chevy Spark, driving A123′s shares up. But Weinkes said the near-term market for this city-oriented car is probably limited. He also said sales of the all-electric Nissan Leaf and the plug-in hybrid Chevy Volt have been weak, and he is less optimistic about sales of electric vehicles in the next one to three years.

Click here to read the full Bloomberg report

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