A meeting with management in which FBR Capital analyst Tom Curran gleaned “three salient takeaways” has resulted in the analyst reiterating his Buy rating on Energy Recovery, Inc. (NASDAQ:ERII).

Curran highlights:

  1. Regarding VorTeq (VT), we heard reassuring confidence about the resolvability of the prototype missile’s pipe excitation issues.
  2. ERII’s next PX Pressure Exchanger–derived product launch seems even closer and more promising than anticipated.
  3. 2017 should bring a continuation of the global up-cycle in desal spending, as well as a breakthrough ESA deal.

As a result, the analyst has become all the more confident in his investment thesis. Curran reiterated his price target of $16 which represents an upside of nearly 35% from the current share price. The analyst consensus rating on TipRanks exhibits ERII as a Strong Buy.

Curran is a four-star rated analyst on TipRanks, which places him at #618 out of a total of 4,283 tracked analysts.