Raymond James Keeps Wesport Innovations (WPRT) at Market Perform; Same Old Story, Different Quarter

Raymond James is maintaining its Market Perform rating on Westport Innovations (Nasdaq: WPRT) following Q2 results and guidance.

Analyst Pavel Molchanov commented, The combination of historically high oil prices and cheap North American natural gas is driving sustained expansion of natural gas fuels in the domestic market – as has long been the case overseas. Hardware providers such as Westport play a key role in this trend. The attractive economics – even without significant policy support – and an expanding range of engine models should propel Westport’s sales steadily higher.

On lowered guidance (FY13 revs of $160 - $180 million, from $180 - $200 million prior), Molchanov notes that management commented on incentive delay in Sweden again, also alluding to customer preferences in favor of the CWI ISX12 G engine versus the Westport 15L.

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 $31.87 yesterday.

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