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Message: George Doumet - Scotia Capital Markets

This analyst has covered KWH since the beginning.

According to his May 9 update he says this;

- Q4/12 EBITDA was $7 million

- estimates Q1 /13 EBITDA of $5.6 million

Q1 results expected to be WEAK due to higher wholesale electricity costs that could not be passed through due to a worse than expected competitive environment.He does expect a more NORMAL Q2

- he expects to see an acquisition sometime this year

- expects a 86% payout ratio in 2013 dropping to 70% in 2014 due to acquisitions

-He is maintaining an outperform rating and his 10.50 price target

I think his price target is optimistic but I picked up 800 more shares @ 6.21 on Friday.

Happy Mothers day you Mothers !!

Rico

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