ORLANDO, Fla., Jan. 22, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., today announced that it has initiated research coverage on SpaceDev, Inc. (OTCBB:SPDV), an entrepreneurial space systems company that develops high-performance, innovative components and systems that enable space exploration.
Andre Garnet, MBA, RedChip Senior Equity Research Analyst, wrote in the report:
"We initiate coverage of SpaceDev, Inc., with a Speculative Buy recommendation. SpaceDev, Inc. is a space technology/aerospace company that creates and sells affordable and innovative space technology products and services used in satellites and spacecraft. We have a positive outlook on SPDV based on its price appreciation potential as higher revenues and margins drive earnings growth."
"We believe SPDV is well positioned to implement its strategy of growth through innovation and are initiating coverage with a Speculative Buy rating and a 12-month, $1.65 price target," Mr. Garnet continued in the report.
To receive a complimentary copy of the RedChip Visibility Initial Research Report for SpaceDev, please visit:
http://www.redchip.com/visibility/about.asp?page=vreport&reportid=83&from=01142008news
About RedChip Companies, Inc.
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Disclosures
The analyst(s) contributing to this report do not hold any shares of SPDV. Additionally, the analyst(s) contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This research 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. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change. SpaceDev, Inc. is a client of RedChip Visibility, a division of RedChip Companies. SPDV paid RedChip Visibility $30,000 for the RedChip Visibility Research Program, which includes this report. RedChip Visibility, a division of RedChip Companies, Inc has been contracted by SpaceDev, Inc. to increase investor awareness of SPDV to the small-cap equity community. These services may include investor conferences and digital and print distribution of SPDV investor related materials.