Although we expect significant declines in both revenues and earnings in fiscal 2010 for Energy Conversion Devices (ENER), revenue should improve in 2011, assuming an improvement in overall economic conditions.

The company has announced a significant reduction in headcount. However, it is likely that the company will not be net free cash flow positive in the forseeable future.

We have changed our recommendation to Underperform and dropped our price target to $10.00.

Zacks Investment Research

1. (ENER) Energy Conversion Devices – Bear of the DayWe expect significant declines for Energy Conversion Devices (ENER) in both revenues and earnings in...
2. (ENER) Energy Conversion Reports In LineEnergy Conversion Devices Inc. (ENER) recently reported unenthusiastic results for the fourth quarter. Adjusted loss...
3. (FSLR) Renewable Energy RollercoasterLast year it would have been hard to imagine that the green energy movement would...
4. (ENER) – Energy Conversion Devices – next-year estimate projecting 450% earnings growthEnergy Conversion Devices, Inc. (ENER) reported awesome fourth-quarter and full-year results yesterday morning that included...
5. (ENER) – Energy Conversion Devices – next-year estimate projecting 450% earnings growthEnergy Conversion Devices, Inc. (ENER) reported awesome fourth-quarter and full-year results yesterday morning that included...
6. (ENER) – Energy Conversion Devices – next-year estimate projecting 450% earnings growthEnergy Conversion Devices, Inc. (ENER) reported awesome fourth-quarter and full-year results yesterday morning that included...

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