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:
- Regarding VorTeq (VT), we heard reassuring confidence about the resolvability of the prototype missile’s pipe excitation issues.
- ERII’s next PX Pressure Exchanger–derived product launch seems even closer and more promising than anticipated.
- 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.
