Pritchard Capital Says Echelon Corporation Might Run Today (ELON)

Pritchard Capital has a Buy rating and $12 price target on shares of Echelon Corporation ELON as the company announced it has a new product to be revealed September 8. In a note to clients Pritchard Capital writes, "ELON ($7.39-B-$12) – “Apple-Like”. Company announced it will reveal a “groundbreaking new platform for the smart grid” on September 8. Could be a signal that the company is stepping up its U.S. marketing effort. We would expect the shares to outperform this morning." Shares of Echelon Corporation are down 1 cent to $7.38 in early Thursday trading.