Robert M. LeBoyer, Senior Biotechnology Analyst of Meyers Associates, gave Odyne an “Outperform” rating with a price target of $5 which is expected to be reached in the next 52 weeks.
The new Environmental Protection Agency regulations are one of the driving factors influencing the alternative energy vehicle market. The Research Firm believes that hybrid cars will partake in a significant market share of the growing market.
Odyne’s system of charging car batteries is favored by the Federal Government, as the U.S. strategically reduces the dependence on foreign oil imports.
The company has already begun working with manufactures to install their systems on buses and trucks. In the future, Odyne plans to sell its PHEV system to vehicle manufactures such as Chevrolet, Ford, and Toyota. This plan parallels Intel’s strategy of putting CPUs in many different manufactured computers.
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