Jefferies Reiterates a 'Buy' on Westport Innovations (WPRT); Analyst Day Highlights: Shifting from Concept Stock To Growth Story
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Price: $1.83 +1.10%
Rating Summary:
8 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies reiterates a 'Buy' on Westport Innovations (NASDAQ: WPRT) price target of $38.00.
Jefferies analyst says, "Westport held an analyst day to revisit, in sequence, each of its segments. The key details would be familiar to investors already tracking the stock: 1/CWI earnings basically fund Westport's longer-term investments (~$25m/year run rate, excluding $11-$12m in stock compensation); 2/ The HD business is expected to deliver 200-300 units in 2H11 and is expected to reach profitability "soon" (1,200 vehicle annual run rate, $60,000 ASP); 3/ The LD business should reach profitability quickly given the Emer acquisition; 4/ Westport now has a range of offerings to target everything from passenger cars to HD trucks; and 5/ vehicle OEMs, natural gas producers, and fleets are now starting to coordinate their efforts to take advantage of the arbitrage between oil-based fuels and natural gas. The company highlighted four priorities besides reaching profitability: invest in the LD NA auto market; win additional engine platforms with OEMs; invest in high-horsepower applications ($20-$40m); and pursue strategic accretive M&A."
For more ratings news on Westport Innovations click here and for the rating history of Westport Innovations click here.
Shares of Westport Innovations closed at $28.35 yesterday.
Jefferies analyst says, "Westport held an analyst day to revisit, in sequence, each of its segments. The key details would be familiar to investors already tracking the stock: 1/CWI earnings basically fund Westport's longer-term investments (~$25m/year run rate, excluding $11-$12m in stock compensation); 2/ The HD business is expected to deliver 200-300 units in 2H11 and is expected to reach profitability "soon" (1,200 vehicle annual run rate, $60,000 ASP); 3/ The LD business should reach profitability quickly given the Emer acquisition; 4/ Westport now has a range of offerings to target everything from passenger cars to HD trucks; and 5/ vehicle OEMs, natural gas producers, and fleets are now starting to coordinate their efforts to take advantage of the arbitrage between oil-based fuels and natural gas. The company highlighted four priorities besides reaching profitability: invest in the LD NA auto market; win additional engine platforms with OEMs; invest in high-horsepower applications ($20-$40m); and pursue strategic accretive M&A."
For more ratings news on Westport Innovations click here and for the rating history of Westport Innovations click here.
Shares of Westport Innovations closed at $28.35 yesterday.
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