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Purzelinho · 10-12-2010, 15:06

Lithium Battery Stocks Who will rallye in 2011?

Lithium Battery Stocks: Who Will Rally in 2011?
By Andrea Tse 12/09/10 - 12:25 PM EST

NEW YORK (TheStreet) -- As electric car trends continue to move forward into 2011, investors want to know what's in store for makers of the rechargeable batteries that will be powering them.
The rising stars of the rechargeable battery space have, of course, been light-weight, but energy-dense lithium batteries, which are expected to experience a growing adoption rate in the global push for fuel economy.

According to Wunderlich analyst Theo O'Neill, for lithium batteries to penetrate a meaningful fraction of the world's car market, prices need to fall by about 50%. He estimates this will occur in 2014, or when the industry has produced more than 50 million individual battery cells, or 150,000 electric cars.

The lithium battery business could become very large depending on the market's acceptance of electric cars and hybrids, how quickly battery costs can be lowered and the extent of government subsidies," O'Neill says. In one instance of electric car acceptance, General Motors(GM_) has now raised its planned production rate of plug-in hybrid electric Chevrolet Volts to 60,000 a year by 2012, from the initial planned production rate of 30,000 a year, according to D.A. Davidson analyst Avinash Kant, who cites industry sources in an equity research report. General Electric(GE_) recently announced that it will buy 25,000 electric vehicles by 2015, almost half of them from GM, including the 2011 Chevy Volt.

[...]
Earnings and revenue consensus views for lithium battery company A123's(AONE) future quarter are thought to be going through revisions after the company recently told investors that the timing of its automotive OEM customer production ramp up was to be pushed out to the second quarter of 2011, from the fourth quarter fourth quarter of 2010.

Goldman Sachs analyst Mark Wienkes sees the OEM delays as "normal growing pains," but remains neutral on the stock. "Despite a leading technology and rapid capacity expansion, we believe the investment cycle ahead of the revenue ramp will take longer and require more capital than expected," he explained in a client note. Craig-Hallum analyst Robert Brown was lowering his estimates for the company, but believes that A123 remains "well-positioned" to capture growth in the hybrid-vehicle and grid-storage markets given its "best-of-breed" products.

The OEM delays were in line with Stifel Nicolaus analyst Dilip Warrier's thesis that electric vehicle production ramps will occur more gradually than expected. "Coupled with aggressive Asian competition, this could lead to a gradual reduction in aggressive consensus estimates for 2011, 2012 and 2013," Warrier said in a note.

A123 management remains optimistic about a major contract with a big OEM in 2012 or 2013; Warrier believes this customer could be GM.

Recently A123v noted significantly lower production yields at new facilities, which was costly for the company, but assures that it has identified the problem and found a solution for it. Such issues are commonly encountered by manufacturers trying to ramp up production, said Warrier.

A123 also recently announced the resignation of CFO Michael Rubino effective Jan. 14, 2011, without naming a successor. Analysts have responded to this with mixed views -- some looking for a stock overhang owing to the element of uncertainty; others saying his departure won't affect the future of the company given that Rubino was rarely involved in pursuing new business deals.

In the coming quarters, investors will want to know what Advanced Battery Technologies(ABAT) ends up doing with its $30 million capital injection via the issuance of millions of additional shares.

This diluting move was a disappointment for many investors -- announced just as the stock was strengthening on strong third-quarter results. A sharp selloff of the stock ensued.

[...]
On Nov. 30, Advanced Battery Technologies announced that it was raising $30 million in capital through the issuance of 7.5 million shares, at $4 a share to institutional investors. It was also issuing for investors warrants to buy up to about 3.8 million shares of common stock, which if fully exercised, would provide an additional $15 million in gross proceeds to the company. ABAT said it would likely use the proceeds for acquisitions and expansion of the company's battery manufacturing facility.

Advanced Battery Technologies(ABAT) reported third-quarter net income increase of 118.8% year-over-year to $11.1 million, or 16 cents a share, from about $5.1 million, or 8 cents a share a year ago. For the quarter ended Sept. 30, ABAT generated revenue growth of 46.4% to $25.9 million, from $17.7 million the same time last year, partly driven by its recently-acquired electric vehicle business. At the end of April last year, ABAT said it completed the acquisition of Chinese electric vehicle maker Wuxi Angell Autocycle for RMB 70 million or $3.6 million.

10-12-2010, 15:06	#10
Purzelinho TBB Family Registriert seit: Feb 2010 Beiträge: 1.022	Lithium Battery Stocks Who will rallye in 2011? Lithium Battery Stocks: Who Will Rally in 2011? By Andrea Tse 12/09/10 - 12:25 PM EST NEW YORK (TheStreet) -- As electric car trends continue to move forward into 2011, investors want to know what's in store for makers of the rechargeable batteries that will be powering them. The rising stars of the rechargeable battery space have, of course, been light-weight, but energy-dense lithium batteries, which are expected to experience a growing adoption rate in the global push for fuel economy. According to Wunderlich analyst Theo O'Neill, for lithium batteries to penetrate a meaningful fraction of the world's car market, prices need to fall by about 50%. He estimates this will occur in 2014, or when the industry has produced more than 50 million individual battery cells, or 150,000 electric cars. The lithium battery business could become very large depending on the market's acceptance of electric cars and hybrids, how quickly battery costs can be lowered and the extent of government subsidies," O'Neill says. In one instance of electric car acceptance, General Motors(GM_) has now raised its planned production rate of plug-in hybrid electric Chevrolet Volts to 60,000 a year by 2012, from the initial planned production rate of 30,000 a year, according to D.A. Davidson analyst Avinash Kant, who cites industry sources in an equity research report. General Electric(GE_) recently announced that it will buy 25,000 electric vehicles by 2015, almost half of them from GM, including the 2011 Chevy Volt. [...] Earnings and revenue consensus views for lithium battery company A123's(AONE) future quarter are thought to be going through revisions after the company recently told investors that the timing of its automotive OEM customer production ramp up was to be pushed out to the second quarter of 2011, from the fourth quarter fourth quarter of 2010. Goldman Sachs analyst Mark Wienkes sees the OEM delays as "normal growing pains," but remains neutral on the stock. "Despite a leading technology and rapid capacity expansion, we believe the investment cycle ahead of the revenue ramp will take longer and require more capital than expected," he explained in a client note. Craig-Hallum analyst Robert Brown was lowering his estimates for the company, but believes that A123 remains "well-positioned" to capture growth in the hybrid-vehicle and grid-storage markets given its "best-of-breed" products. The OEM delays were in line with Stifel Nicolaus analyst Dilip Warrier's thesis that electric vehicle production ramps will occur more gradually than expected. "Coupled with aggressive Asian competition, this could lead to a gradual reduction in aggressive consensus estimates for 2011, 2012 and 2013," Warrier said in a note. A123 management remains optimistic about a major contract with a big OEM in 2012 or 2013; Warrier believes this customer could be GM. Recently A123v noted significantly lower production yields at new facilities, which was costly for the company, but assures that it has identified the problem and found a solution for it. Such issues are commonly encountered by manufacturers trying to ramp up production, said Warrier. A123 also recently announced the resignation of CFO Michael Rubino effective Jan. 14, 2011, without naming a successor. Analysts have responded to this with mixed views -- some looking for a stock overhang owing to the element of uncertainty; others saying his departure won't affect the future of the company given that Rubino was rarely involved in pursuing new business deals. In the coming quarters, investors will want to know what Advanced Battery Technologies(ABAT) ends up doing with its $30 million capital injection via the issuance of millions of additional shares. This diluting move was a disappointment for many investors -- announced just as the stock was strengthening on strong third-quarter results. A sharp selloff of the stock ensued. [...] On Nov. 30, Advanced Battery Technologies announced that it was raising $30 million in capital through the issuance of 7.5 million shares, at $4 a share to institutional investors. It was also issuing for investors warrants to buy up to about 3.8 million shares of common stock, which if fully exercised, would provide an additional $15 million in gross proceeds to the company. ABAT said it would likely use the proceeds for acquisitions and expansion of the company's battery manufacturing facility. Advanced Battery Technologies(ABAT) reported third-quarter net income increase of 118.8% year-over-year to $11.1 million, or 16 cents a share, from about $5.1 million, or 8 cents a share a year ago. For the quarter ended Sept. 30, ABAT generated revenue growth of 46.4% to $25.9 million, from $17.7 million the same time last year, partly driven by its recently-acquired electric vehicle business. At the end of April last year, ABAT said it completed the acquisition of Chinese electric vehicle maker Wuxi Angell Autocycle for RMB 70 million or $3.6 million.