In a report released yesterday, Colin Rusch from Oppenheimer maintained a Buy rating on Capstone Turbine Corp (NASDAQ: CPST), with a price target of $3. The company’s shares closed yesterday at $1.42.
Rusch commented:
“We believe the CPST story is highly dependent on realizing product sales growth and the associated manufacturing leverage. We are encouraged by the company’s progress in improving close rates, which we believe is critical to sales growth. In addition, we believe buying out UTC will prove a key move in reducing overall costs as sales ramp. We expect the company to go through a critical period of cash management over the next year as it works to support revenue growth. We remain constructive as we adjust estimates and push out reaching break-even performance modestly.”
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 13.4% and a 48.9% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Amer Superconductor, Canadian Solar Inc, and Fuelcell Energy.
Currently, the analyst consensus on Capstone Turbine Corp is a Strong Buy with an average price target of $2.63, which is an 85.2% upside from current levels. In a report issued on July 30, H.C. Wainwright also maintained a Buy rating on the stock with a $2 price target.
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The company has a one-year high of $1.90 and a one-year low of $0.58. Currently, Capstone Turbine Corp has an average volume of 670.5K.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CPST in relation to earlier this year.
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Capstone Turbine Corp. develops, manufactures, markets and services micro turbine technology solutions for use in stationary distributed power generation applications, including cogeneration combined heat and power, integrated combined heat and power, and combined cooling, heat and power, renewable energy, natural resources and critical power supply.
