Zoltek (ZOLT) Shares Surge Midday as Dougherty Upgrades to Buy
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Price: $16.73 --0%
Rating Summary:
1 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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An analyst at Dougherty & Co upgraded shares of Zoltek Companies, Inc. (NASDAQ: ZOLT) from Neutral to Buy Thursday morning. The firm cut its price target from $12 to $9.
The firm cites "increasing market opportunities and an attractive valuation." Dougherty is expecting "gross margin improvement in the coming quarters as sales volumes and utilization rates increase, which will reduce the company's available unused capacity costs."
Shares of Zoltek spiked following the mid-day upgrade. The stock is now up 3.2 percent to around $7.13. Dougherty's new, lowered price target still represents potential upside of about 26 percent.
For more ratings news on Zoltek Companies, Inc. click here and for the rating history of Zoltek Companies, Inc. click here.
The firm cites "increasing market opportunities and an attractive valuation." Dougherty is expecting "gross margin improvement in the coming quarters as sales volumes and utilization rates increase, which will reduce the company's available unused capacity costs."
Shares of Zoltek spiked following the mid-day upgrade. The stock is now up 3.2 percent to around $7.13. Dougherty's new, lowered price target still represents potential upside of about 26 percent.
For more ratings news on Zoltek Companies, Inc. click here and for the rating history of Zoltek Companies, Inc. click here.
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