Canaccord Genuity Maintains a 'Hold' on Westport Innovations (WPRT); Living Oil-free with LNG
WPRT Hot Sheet
Rating Summary:6 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82
Canaccord Genuity maintains a 'Hold' on Westport Innovations (NASDAQ: WPRT) price target raised to $38.
Analyst, john Quealy, said, "Against a great macro for the adoption of natural gas as a transportation fuel (reflected in the stock’s strong inverse correlation to gas prices), WPRT appears to have catalysts ahead to keep momentum going. That said, with shares appreciating ~28% YTD (~$2B mkt cap) we expect valuation creation to moderate a bit, as we update our price target (acknowledging the high beta) and Q4 estimates into the YE call."
"After increasing our HD shipments to 150 from 100, along with other adjustments, our new Q4 revenue/EPS estimates go to $85.4M/$(0.25) from $82M/$(0.02) respectively."
For an analyst ratings summary and ratings history on Westport Innovations click here. For more ratings news on Westport Innovations click here.
Shares of Westport Innovations closed at $42.20 yesterday, with a 52 week range of $14.25-$43.36.
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Analyst, john Quealy, said, "Against a great macro for the adoption of natural gas as a transportation fuel (reflected in the stock’s strong inverse correlation to gas prices), WPRT appears to have catalysts ahead to keep momentum going. That said, with shares appreciating ~28% YTD (~$2B mkt cap) we expect valuation creation to moderate a bit, as we update our price target (acknowledging the high beta) and Q4 estimates into the YE call."
"After increasing our HD shipments to 150 from 100, along with other adjustments, our new Q4 revenue/EPS estimates go to $85.4M/$(0.25) from $82M/$(0.02) respectively."
For an analyst ratings summary and ratings history on Westport Innovations click here. For more ratings news on Westport Innovations click here.
Shares of Westport Innovations closed at $42.20 yesterday, with a 52 week range of $14.25-$43.36.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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