New York, NY -- (ReleaseWire) -- 04/17/2013 --Vista Partners announced that it has initiated coverage on ECOtality, Inc. (NASDAQ:ECTY) with a twelve month price target of $3.70.
Ross Silver, Principal Analyst at Vista Partners, stated, "The fleet of plug-in electric vehicles ("EVs") in the United States is the largest in the world. Since 2008 more than 90,000 highway-capable plug-in electric cars have been sold in the country through March 2013, with sales led by the Chevrolet Volt plug-in hybrid with 35,702 units, followed by the Nissan LEAF all-electric car with 23,051 units."
Mr. Silver continues, "According to a 2011 study by Pike Research, annual sales of plug-in electric vehicles in the U.S. are predicted to reach 360,000 vehicles by 2017. Based on the continued introductions of EVs, and the success of the LEAF and Volt, ECTY expects strong and sustained demand for their Blink Network system, beyond what they have contracted under The EV Project."
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Crest Financial Limited, the largest minority shareholder of Clearwire Corporation (NASDAQ:CLWR), on April 10th, filed a preliminary proxy statement that, when cleared by the Securities and Exchange Commission, will be used to urge Clearwire stockholders to reject the proposed merger with Sprint Nextel Corporation.
In the preliminary proxy statement, Crest reiterates that it opposes the Sprint-Clearwire merger because it believes that "it would be better for Clearwire to remain a stand-alone company" because the Sprint offer of $2.97 in cash per share is inadequate – based on several measures – and was devised in a way that unfairly disadvantages minority stockholders.
Crest has hired the proxy-solicitation firm D. F. King & Co., Inc. to help it oppose the proposed Sprint-Clearwire merger.
Clearwire Corporation, through its subsidiaries, provides fourth generation (4G) wireless broadband services in the United States.
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