Canaccord Genuity Maintains a 'Hold' on Westport Innovations (WPRT); Adjusting PT & Estimates

May 9, 2012 9:30 AM EDT Send to a Friend
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Price: $5.28 -3.3%

Rating Summary:
    8 Buy, 13 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Canaccord Genuity maintains a 'Hold' on Westport Innovations (NASDAQ: WPRT) price target lowered from $44 to $34.

Analyst, John Quealy, said, "We maintain our rating as the rapid pace of new product line introductions and volume growth necessitates accelerated investment and 12L launch tempers near-term margins. Volatility likely stays elevated in the near term, while we note several upcoming potential catalysts in May (Alternative Clean Transportation Expo, NYC Investor Day)...Our 2012 estimates go to $415M/$(1.28) from $400.0M/$(1.04), while ‘13 EPS goes to $(0.80) from $(0.75)."

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 $28.04 yesterday.


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