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Dutton Associates Announces Investment Opinion: BluePoint Energy Speculative Buy Rating Maintained By Dutton Associates
ROSEVILLE, Calif.-(Business Wire)-June 18, 2008 - Dutton Associates continues its coverage of BluePoint Energy (OTCBB: CPEU) maintaining a Speculative Buy rating and a price target of $2.20. The note dated June 17, 2008, by Dutton senior analyst Richard West, CFA, is available at www.jmdutton.com as well as from First Call, Bloomberg Professional, Zacks, Knobias, Reuters, and other leading financial portals.
BluePoint Energy's projected $6.1 revenue for the current quarter strongly validates its changed business plan addressing the demand response power market. With the probability of follow-on contracts with Macy's and Starwood, plus additional business in Hawaii, we believe this is just the beginning of revenue generation for BluePoint Energy and has put them on the path to profitability. Blue Point had announced that it is in the final stages of completing the first three turnkey cogeneration installations in support of its previous proprietary discount energy purchase agreements. These installations include the Macy's Store in Brooklyn, New York, and the newly renovated Westin Kaanapali Ocean Resort Villas on the island of Maui, Hawaii. BluePoint indicated that the completion of these installments will produce approximately $6.1 million in revenue.
About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 30 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 $90,000 from the Company for 12 Research Reports with coverage commencing on 7/09/2004. 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.
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