Needham & Company Upgrades Zoltek Companies, Inc. (ZOLT) to Hold; Partnership Provides Entry Into Auto Market

Needham & Company upgraded Zoltek Companies, Inc. (NASDAQ: ZOLT) from Underperform to Hold.

Analyst, Michael Lew, said, "In our view, the announcement of a partnership with Magna International (NYSE: MGA) provides Zoltek with an entry point into the sizeable automotive market. The details of the partnership were not provided. However, we would be inclined to become more 'positive' on ZOLT shares if this partnership were to yield meaningful revenues in the near term. We expect to learn more in upcoming months. In our view, ZOLT shares are fairly valued, and we are raising our rating."

For an analyst ratings summary and ratings history on Zoltek Companies, Inc. click here. For more ratings news on Zoltek Companies, Inc. click here.

Shares of Zoltek Companies, Inc. closed at $10.19 yesterday.

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