Canaccord Reiterates Hold on Westport Innovations Inc. (USA); Here’s Why
Westport Innovations Inc. (USA) (NASDAQ:WPRT) shares are down 15.85% today after the company reported a wider than expected fourth quarter loss late yesterday. Subsequently, Canaccord Genuity analyst John Quealy reiterated a Hold rating on WPRT with a $6.00 price target, which represents a potential upside of 25% from where the stock is currently trading.
Quealy has reduced his F2015 revenue/EPS estimates from $152M/$(1.25) to $111M/$(1.95). F2016 introduced at $140M/$(1.80). He noted, “Macro oil price challenges keep share volatility high, while the company works to introduce engine platforms, book orders and perhaps most of all – conserve cash – in 2015.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst John Quealy has a total average return of 17.0% and a 52.5% success rate. Quealy is ranked #224 out of 3508 analysts.