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Lazard Confirm’s A123’s Ties to Chrysler
A123 Systems, Inc. (AONE, Free Analysis), which develops and sells lithium-ion and other types of battery systems, has seen its shares drop more than 30% over the past 52 weeks, but one analyst sees a tie with Chrysler as a potential upside catalyst. Lazard Capital confirmed that Chrysler will be using the firm’s batteries in one of its Fiat 500 electric vehicles.
The analyst believes that the tie could represent a $100 million opportunity for the battery manufacturer, with the Fiat 500 expected in the U.S. market by 2012. Currently, A123 System’s market capitalization stands at approximately $1.46 billion with a string of net income losses projected through 2011 by 13 analysts covering the company.
A123 Systems, Inc. (AONE, Free Analysis), which develops and sells lithium-ion and other types of battery systems, has seen its shares drop more than 30% over the past 52 weeks, but one analyst sees a tie with Chrysler as a potential upside catalyst. Lazard Capital confirmed that Chrysler will be using the firm’s batteries in one of its Fiat 500 electric vehicles.
The analyst believes that the tie could represent a $100 million opportunity for the battery manufacturer, with the Fiat 500 expected in the U.S. market by 2012. Currently, A123 System’s market capitalization stands at approximately $1.46 billion with a string of net income losses projected through 2011 by 13 analysts covering the company.
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