Janney Montgomery Scott Upgrades Fuel Systems Solutions (FSYS) to Buy
More News related to FSYS
- Canaccord Adams Maintains a 'Buy' on Fuel Systems Solutions (FSYS); Raises PT & Estimates
- Unusual 11 Mid-Day Movers 11/05: RX, FSYS, NWK, ROYL Higher; SMSI, ELMG, PL, CVS Lower
- Morning Movers 11/05: ROYL, RX, FSYS, KAI, SANM Higher; SMSI, CVS, MBRK, INOD, PL, ARO Lower
- Fuel Systems (FSYS) Posts Q3 EPS of $0.77, Tops Estimates; Guides FY09 Revs
- Fuel Systems Solutions Reports Third Quarter 2009 Results
Janney Montgomery Scott upgrades Fuel Systems Solutions (Nasdaq: FSYS) to Buy. Price target $31.
Janney analyst says, "We are upgrading Fuel Systems Solutions for three reasons: (1) the OEM market in Europe for alternative transportation is growing faster than expected; (2) the $30 million raise was smaller than expected and removes an overhang on the stock; and (3) the stock pullback has made the stock attractive. We have liked Fuel Systems position in the U.S. NGV market, but have been concerned about the European aftermarket, gross margin expectations, and the previously upcoming capital raise. We continue to be concerned about the aftermarket and gross margins, but believe these are now outweighed by the OEM push. We are keeping our gross margin expectations low at 26% for the rest of the year. Our $31 fair value is based on 18x our new 2010 EPS estimate of $1.76."
To see more analyst ratings on FSYS Click Here.
Fuel Systems Solutions, Inc. engages in the design, manufacture, and supply of alternative fuel components and systems for use in the transportation, industrial, and power generation industries.
Related Categories
UpgradesStocks Mentioned
+0.28Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
