Wedbush Maintains Neutral On American Superconductor

Wedbush Securities is out with a research report on American Superconductor AMSC, and is maintaining its Neutral rating and $15 price target on shares. In a note to clients, Wedbush Securities writes, "AMSC provides incremental color on pending revenue restatements. The company issued a press release indicating that following completion of the pending revenue restatements, AMSC expects 2Q10 (Sept 30) revenue of around $98m and 3Q10 revenue of $43m, vs. previously reported results of $101.5m and $114.2m, respectively. For the full fiscal year 2010 (March 2011), AMSC expects revenue of $307.0m, implying 4Q10 revenue of around $69 million. Previously reported revenue from Sinovel was around $80m and $83m in 2Q10 and 3Q10, respectively." Shares of AMSC are down 22 cents to $7.90 today, a loss of 2.7%.