Jefferies Boosts Price Target on Westport (WPRT) to $55
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Price: $1.81 --0%
Rating Summary:
8 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
8 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Jefferies lifted its price target on Westport Innovations (NASDAQ: WPRT) from $45 to $55 following the recent 5.5m share offering, where Jefferies was a joint bookrunner.
The firm notes that Westport indicated 2012 sales are on track to be $400-$425m, well above the firm's $300m estimate and suggesting a seismic shift in order patterns.
"With more OEM partnerships and platforms likely, and order patterns improving, we raise our target $10 to $55," the firm comments.
The firm adjusted Q1 EPS from ($0.19) to ($0.31) and FY12 from ($0.80) to ($0.65).
For an analyst ratings summary and ratings history on Westport Innovations click here. For more ratings news on Westport Innovations click here.
Shares of Westport Innovations closed at $43.94 yesterday.
The firm notes that Westport indicated 2012 sales are on track to be $400-$425m, well above the firm's $300m estimate and suggesting a seismic shift in order patterns.
"With more OEM partnerships and platforms likely, and order patterns improving, we raise our target $10 to $55," the firm comments.
The firm adjusted Q1 EPS from ($0.19) to ($0.31) and FY12 from ($0.80) to ($0.65).
For an analyst ratings summary and ratings history on Westport Innovations click here. For more ratings news on Westport Innovations click here.
Shares of Westport Innovations closed at $43.94 yesterday.
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