Shares of Akeena Solar, Inc. (AKNS) Jump on Analyst Initiation and $12 Target Price
Shares of Akeena Solar, Inc. (NASDAQ: AKNS), one of the largest national installers of residential and commercial solar power systems in the United States, recently climbed 18 percent to $6.90 per share on news of an analyst initiation and $12 target price. The company's new integrated solar panel system, Andalay, is the only solar panel system with integrated racking, wiring and grounding. Despite the favorable coverage, the company’s first quarter earnings came in below investors’ and analysts’ expectations. Net sales for the first quarter of 2008 were $12.2 million, an increase of 94.7% compared to $6.3 million in net sales…