Goldman Sachs Research Summary (MAR 20, 2007)

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By Douglas A. McIntyre Published
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Earnings estimates RAISED for Ballard Power (BLDP), Cabot Oil & Gas (COG), Fuel Tech (FTEK), Southwestern Energy (SWN), Ultrapar (UGP), Westar Energy (WR).

Earnings estimates DECREASED for Chesapeake Energy (CHK), Evergreen Energy (EEE), Evergreen Solar (ESLR), Forest Oil (FST), Newfield Exploration (NFX), Pertobras Energia ADR (PZE), Petroleo Brasiliero (PBR), Pogo Producing (PPP), Reliant Energy (RRI), Norte (NT), Fuel Cell (FCEL), Noble Energy (NBL), Questar (STR).

Goldman Sachs says that right now is a great time to BUY Flextronics (FLEX) because of the pullback and now at an 11% discount to the coverage universe.  It also believes that recent and prospective contract wins lend confidence to a 10% to 15% revenue growth.  It also sees it improving in handsets, a key part of its growth strategy, winning from the likes of recent Qualcomm guidance.  Goldman Sachs sees a 27% upside based on its $14.00 target.

Maintains NEUTRAL rating on Alternative Energy sector to those with tangible economic results: Evergreen Solar (ESLR), Fuel Tech (FTEK), Evergreen Energy (EEE), and Fuel Cell (FCEL) all maintained neutral.

Goldman Sachs maintained negative pricing pressure and negative product mix in Q1 on Nortel Networks (NT).

Qualcomm (QCOM) defended after recent lawsuit news because it views the 2.9% cut to the royalty rates and the 21% cut to the annual CDMA market as unlikely scenarios; maintained Buy/Attractive.

eBay (EBAY) maintained Buy/Attractive based on Year-to-Date item listings.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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