Rodman & Renshaw Initiates Coverage of Orion Energy Systems with Market Outperform and PT of $6

Rodman & Renshaw initiated coverage of Orion Energy Systems OESX with a Market Outperform rating and a price target of $6. In a research report published today, Rodman & Renshaw stressed that Orion has returned to profitability and is very well positioned at the moment. In the report, Rodman & Renshaw states, "Orion has returned to profitability and is better positioned than ever after facing a difficult economic period following its 2007 IPO. Today, the company is armed with a third party financing agreement to counter sluggish capex spend by its target customers... Thus, we believe the Company is well positioned in the C&I lighting retrofit market with its HIF based product line, which is well suited for certain industrial facilities." On Wednesday, Orion lost 0.52% of its value to finish the day at $3.91.