Roth Capital reiterates a Buy rating and $10.00 price target on Pioneer Power Solutions (NASDAQ: PPSI) following 1Q results. Analyst Matt Koranda feels that PPSI had a strong quarter despite headwinds in the liquid-transformers business. PPSI posted revenues of $28.9mn (vs Roth estimates of $24.9mn), and non-GAAP EPS of 3c missed Roth's estimate of 7c.

Koranda commented on PPSI, saying, "In our view, PPSI generated reasonably strong Q1 results despite experiencing continued headwinds in the liquid-filled transformers business. Areas of strength include dry transformers from Jefferson (especially on the OEM side of the business) as well as Pioneer CEP and the recently acquired Titan business. Moreover, the GM outlook appears to be improving. Reiterate Buy and $10 PT."

Koranda also added, "PPSI management reiterated its full year 2015 guidance for $110-120mn in revenue, $6.5-7.5mn in EBITDA, and $0.45-0.55 in non-GAAP EPS."

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Shares of Pioneer Power Solutions closed at $8.05 yesterday.