UBS Warburg Initiates Coverage of Five Alternate Energy Firms
NEW YORK, (Reuters) - UBS Warburg on Tuesday said its analyst Quint Nufer initiated coverage of five alternative energy companies -- makers of solar cells, fuel cells, and miniturbines.
Fuel cell makers FuelCell Energy Inc. and Medis Technologies Ltd. were started with investment ratings of "strong buy." FuelCell was given a stock price target of $87, and Medis was given a $41 target. Shares of FuelCell rose $3-1/4 $59-9/16 in Nasdaq trading while those of Medis rose $2-3/8 to $19-7/8.
Solar electric power products supplier AstroPower Inc. was rated as "buy" with a target of $48. The shares climbed $1-11/16 to $37-15/16.
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