Jefferies Increases Echelon PT To $10 (ELON)

Jefferies increased its Echelon ELON price target to $10 from $9 in a research report published today. In the report, Jefferies states, "We expect Echelon's smart grid solutions to be the primary driver of growth in 2011 while ELON's Commercial segment focuses on theemerging building energy management, street lighting, and solar inverter markets. We would look for new business wins to put ELON on the path toward profitability." Shares of Echelon were trading at $9.32 at the time of posting, down 5.28% from Thursday's market close.