Canaccord Genuity Maintains a 'Hold' on Fuel-Tech (FTEK); Q4 Preview
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Price: $3.93 +8.56%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade FTEK Now!
Canaccord Genuity maintains a 'Hold' on Fuel-Tech (NASDAQ: FTEK) price target lowered from $7.75 to $7.00.
Analyst, John Quealy, said, "Despite our expectation for a solid Q4, lingering uncertainty surrounding CSAPR and challenging power market dynamics remain headwinds. A strengthening APC backlog drives good visibility near term."
"(For Q4) We model revs/EPS of $24.5M/$0.09 vs. the Street at $25.3M/$0.08. Our segment revenue/gross margins assumptions are: APC - $13.0M/41.0%, FUEL CHEM - $11.5M/52.3%. APC backlog is poised for a bounce given ~$25M in orders, with another ~$5M post quarter. We continue to monitor pending legal challenges to CSAPR, with oral arguments currently scheduled for mid-April."
For an analyst ratings summary and ratings history on Fuel-Tech click here. For more ratings news on Fuel-Tech click here.
Shares of Fuel-Tech closed at $5.70 yesterday, with a 52 week range of $3.77-$9.22.
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Analyst, John Quealy, said, "Despite our expectation for a solid Q4, lingering uncertainty surrounding CSAPR and challenging power market dynamics remain headwinds. A strengthening APC backlog drives good visibility near term."
"(For Q4) We model revs/EPS of $24.5M/$0.09 vs. the Street at $25.3M/$0.08. Our segment revenue/gross margins assumptions are: APC - $13.0M/41.0%, FUEL CHEM - $11.5M/52.3%. APC backlog is poised for a bounce given ~$25M in orders, with another ~$5M post quarter. We continue to monitor pending legal challenges to CSAPR, with oral arguments currently scheduled for mid-April."
For an analyst ratings summary and ratings history on Fuel-Tech click here. For more ratings news on Fuel-Tech click here.
Shares of Fuel-Tech closed at $5.70 yesterday, with a 52 week range of $3.77-$9.22.
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*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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