Needham & Company Maintains a 'Hold' on Zoltek (ZOLT); Bullish Outlook on Improved Wind Demand

Needham & Company maintains a 'Hold' on Zoltek Companies, Inc. (NASDAQ: ZOLT).

Analyst, Michael Lew, said, "The company’s outlook was bullish based on improving wind market demand, with Zoltek highlighting a diversifying wind customer base (with 25% of segment sales from other than Vestas or Gamesa). We would like to see further evidence of more customers through a formal supply agreement with an additional customer before potentially becoming more positive on ZOLT shares."

"Management remained steadfast in its positive outlook for increased adoption in China and also in offshore deployments. If this scenario were to in fact materialize in China as projected, we note that it would also be very positive for Hexcel (NYSE: HXL)(Buy) and Maxwell Technologies (Nasdaq: MXWL)(Buy)."

(FY12 EPS estimates increased from $0.59 to $0.66 and FY13 from $0.48 to $0.62)

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 $10.04 yesterday.

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