FBR Capital Starts Westport Innovations (WPRT) at Outperform, $25 PT

February 19, 2014 6:37 AM EST
Get Alerts WPRT Hot Sheet
Price: $1.15 -1.71%

Rating Summary:
    8 Buy, 14 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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FBR Capital initiates coverage on Westport Innovations (NASDAQ: WPRT) with a Outperform and $25 price target, citing an attractive risk/reward profile.

Analyst Aditya Satghare comments: "We expect Westport to undergo a business model transformation over the next three to five years and to evolve into a specialized natural gas fuel systems provider with technological expertise and select manufacturing partnerships. Investor sentiment on WPRT remains low, primarily due to concerns surrounding the company's path to profitability. We, however, believe that increasing R&D efficiency, management’s focus on cost control, and new partnerships for the HPDI 2.0 product and high-horsepower applications should increase investor comfort in Westport’s ability to profitably participate in the increasing use of natural gas in the on-road trucking, high-horsepower, and light-duty segments."

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 $16.84 yesterday.

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