Roth Capital Assigns Buy On Power Solutions Shares, $90 PT
In a research report issued today, Roth Capital analyst Philip Shen assigned a Buy rating on Power Solutions International (NASDAQ:PSIX) with a $90.00 price target.
Shen wrote, “IC Bus, a subsidiary of Navistar, announced plans to use PSIX’s 8.8L propane engine in school buses. This is a major win for PSIX, in our view. The announcement provides on-road validation by a well-known OEM. PSIX is now firmly in a positive sentiment cycle, and we would be buyers on strength today as we see the stock going higher from here over the near-term.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Philip Shen has a total average return of 6.3% and a 54.4% success rate. Shen has a 11.0% average return when recommending PSIX, and is ranked #854 out of 3253 analysts.