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Fly News Breaks for January 19, 2017
IPWR
Jan 19, 2017 | 08:26 EDT
Roth Capital analyst Craig Irwin downgraded Ideal Power to Neutral from Buy catalyzed by significant share price deterioration ahead of a necessary capital raise, creating the outlook for much greater dilution than he previously anticipated. The analyst notes that it became "increasing obvious" over the course of 2016 that Ideal Power has to pursue a capital raise, given the company has continued to burn cash, while not delivering forecast revenue and gross margins. He also lowered his price target on the shares to $2.70 from $10.
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