September 2011
        1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30  

Monthly Archives

Most recent entries

LOM’s Casse Maintains BUY Rating on Western Wind (TSXV:WND), and Price Target

Feb 28, 2011
Author: SCP Editor

February 28, 2011 – Analyst Comments - LOM’s Lawrence Casse reiterated his BUY rating on Western Wind (TSXV:WND) and $4.10 price target, citing a recent third-party valuation which, phased on the first phase of the process, pegs it at a $206.8 million, or $3.68 per share.

Key Takeaways:

·         DAI Management’s valuation places the estimated net asset value of Windstar at $481.5 million including an estimated cash grant of $99 million to be received within sixty days of the project’s completion, $25 million of fully funded working capital, and performance bonding reserves with Southern California Edison (which we estimate at about $13 million).  Liabilities of $275 million have been subtracted to give a net equity valuation of $206.8 million.  (All numbers are in $US).

·         LOM’s valuation of Windstar was $108.3 million based solely on discounted cash flow analysis – but noted that the full value of WND accelerated depreciation has not been included in model, nor a larger cash grant than originally modelled. 

·         Maintain Buy recommendation with an oneyear target of $4.10 based on a riskadjusted NAV analysis of the projects in WND’s portfolio.


Seacoast Advisors, Inc. is a publisher. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission or with any state securities regulatory authority. The material provided on the website is for general informational purposes only. No information on the website is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy...

Click here to read more. 


Our focus at Small Cap Pulse is to provide our readers with timely and insightful stock ideas and market information that is value-added. Some of the companies that we introduce are our clients, and our only axe to grind is making their story better known. Most of the companies that we discuss are just companies that we think you should know about, as well as the fundamentals that we think will drive their stock prices higher, and in some cases lower...

Click here to read more.