THOMAS WEISEL UPGRADES EXIDE TECH. (XIDE) TO OVERWEIGHT FROM MARKET WEIGHT $7.65

THOMAS WEISEL UPGRADES EXIDE TECH. (XIDE) TO OVERWEIGHT FROM MARKET WEIGHT
S&P Marketscope
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2009-08-21 14:26:41.00
(XIDE EXIDE TECHNOLOGIES
Matthew Morrow THOMAS WEISEL UPGRADES EXIDE TECH. (XIDE) TO OVERWEIGHT FROM MARKET WEIGHT
Analyst Dilip Warrier tells salesforce he recently spent time with XIDE mgmt on the road, came away impressed with its willingness to go thru with tough but necessary restructuring efforts. Expects payback to be in form of significantly improved gross margins, adj. EBITDA in back half of FY 10 (Mar.). Also impressed with strong positioning exiting FY 10 should economic recovery trigger a pickup in demand in FY 11 now that demand appears to have bottomed out.
Narrows $1.18 FY 10 loss est. to $0.91 loss, sees $0.58 FY 11 EPS.
Has $11 target
$7.65 +1.34 (21.24%) 52Wk Range: 3.03 - 7.75

Brokers Recommendations August-11-09

Bond insurer MBIA Inc. tumbled 78 cents, or 12.6 percent, to $5.39 after J.P. Morgan Securities cut its rating on the stock over concerns the company could face steep losses from bad debt.

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