Wunderlich Securities Initiates Coverage of UQM Technologies with Buy and PT of $4

Wunderlich Securities initiated a coverage of UQM Technologies UQM with a Buy rating. At the same time, Wunderlich has placed its price target on the company's stock at $4. In a research report published today, Wunderlich states, "We are initiating coverage of UQM Technologies, Inc. (UQM) with a Buy rating and a $4 price target. Channel checks indicate that UQM has perhaps the best electric drive technology... UQM stock then is a direct play on the success of UQM's particular drive technology and, to a larger extent, on the success of CODA. Production launch has been pushed out until the end of 2011, but we believe this particular car will meet with better success than others and that UQM will benefit from the demand." On Thursday, UQM added 3.96% to its value to close the day at $2.10.