Spongetech Delivery Systems Inc. Rated ‘Speculative Buy,’ Target Price $0.19 By Beacon Equity Research
Spongetech Delivery Systems Inc. (OTCBB: SPNG) has been rated Speculative Buy with a price target of $0.19 by Beacon Analyst, Victor Sula, Ph.D.
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In the report, the analyst writes, “SPNG expects to report fourth-quarter revenues approaching $3.9 million and enters FY 2009 with confirmed order backlog exceeding $27 million … We estimate revenues will reach $5.5 million in FY 2008 and $28.2 million in FY 2009. Going forward, we expect SPNG to maintain 30% average annual longer-term growth as it introduces new products through major U.S. retailers and rapidly penetrates key international markets.”
Other companies in the mining industry include: Ecolab Inc. (NYSE: ECL), Clorox Co. (NYSE: CLX), Church & Dwight Co. Inc. (NYSE: CHD) and Procter & Gamble Co. (NYSE: PG).
Beacon Equity Research Disclosure
The analysts contributing to this report certify that the views expressed herein accurately reflect the analysts’ personal views as to the subject securities and issuers. BeaconEquity.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. BeaconEquity.com is a wholly owned entity of BlueWave Advisors, LLC which has been compensated fifty-thousand dollars from Pine Mountain Ventures, a shareholder of SPNG, as a marketing budget to manage a comprehensive investor awareness program including the creation and distribution of this report as well as other investor relations efforts. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. Please read our report and visit our website, BeaconEquity.com, for complete disclosures.