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Dutton Associates Announces Investment Opinion: Raser Technologies Speculative Buy In Update Coverage By Dutton Associates

Posted on: Monday, 17 December 2007, 12:00 CST

Dutton Associates updates its coverage of Raser Technologies (NYSE: RZ) with a Speculative Buy rating and a $16 price target. The 9-page report by Dutton senior analyst Gerald A. Rothstein, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals.

Raser Technologies has made significant progress towards commercialization of its two technologies: electricity production from geothermal resources and its Symetron family of technologies which enhance the efficiency of electric motors. Over the last few months, the Company has purchased/leased significant new geothermal reserves, been short listed by utilities for power purchase agreements in a number of cases, completed test drilling on one well, and begun on another while its first reserve was designated as a qualifying facility by the Federal Energy Regulatory Commission; this designation requires utilities to buy the facility's output and to carry its power over their transmission lines even if it is sold to other utilities. In its automotive endeavors, the Company has licensed North America's largest re-manufacturer of alternators to "incorporate" Raser's Symetron technology in its car and truck alternators; it also is working with a leading developer of power train technology to develop a "plug-in" hybrid vehicle using Symetron technology. The Company still hasn't received a power purchase agreement for its geothermal reserves, so the modeling of its prospective revenue stream is quite hypothetical and -- while the Symetron technology's appeal has been shown in the awards it has received and the agreements that have been signed which demonstrate that some major players in the automotive industry believe that proof of concept has been established -- neither its mass production cost effectiveness or its reliability in use have been proven yet.

About Dutton Associates

Dutton Associates is one of the largest investment research firms in the U.S. Its 31 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $39,500 from the Company for 4 Research Reports with coverage commencing on 1/30/2007. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.

Source: Business Wire

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