Jefferies Upgrades Energy Recovery (ERII) to Buy

September 13, 2016 6:47 AM EDT
Get Alerts ERII Hot Sheet
Price: $12.78 -7.39%

Rating Summary:
    5 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 30
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Jefferies upgraded Energy Recovery (NASDAQ: ERII) from Hold to Buy with a price target of $20.00 (from $8.00).

Analyst Laurence Alexander commented, "Over the past year Energy Recovery has finally started to deliver on our 2013 "triple thesis": high incremental margins, recovery in the core desalination market and validation of the broader theme of harvesting fluid pressure in high-pressure and toxic environments. Hitting key milestones for fraccing in 1H17 and chemical applications in 2017-2018 should materially lower the risk premium, driving another 50%+ step up. We upgrade to Buy from Hold."

For an analyst ratings summary and ratings history on Energy Recovery click here. For more ratings news on Energy Recovery click here.

Shares of Energy Recovery closed at $12.69 yesterday.

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