Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Needham Raises American Superconductor to Buy

Needham upgraded American Superconductor (AMSC) to buy from hold, and set an $11 price target.

Analyst Jim Ricchiuti says he upgrades on his belief that the recent 21% selloff in AMSC shares over the past month is unwarranted, since there is no change to its business prospects. Given the company's approximate $88 million in cash and no debt, he says AMSC has considerable financial flexibility to move forward with the buildout of its 2G high temperature superconductor wire manufacturing line.

Over the near term, he thinks AMSC performance will hinge on order announcements, particularly in its wires business.

Ricchiuti sees 65 cents loss per share for fiscal year 2006 (March). Although he doesn't see the company reaching profitability until fiscal year 2007, he believes the risk-reward opportunity supports a buy rating.

blog comments powered by Disqus