In a report released today, Amit Dayal from H.C. Wainwright maintained a Buy rating on Fuel Tech (FTEK), with a price target of $2. The company’s shares opened today at $1.17.
Dayal noted:
“We expect the company to generate approximately $54.6M in annual revenues during 2018, compared to $45.2M in 2017 (20.9% YoY increase). We are estimating modest revenue growth during 2019 (approximately 2.7% YoY) and are expecting growth at a slightly faster pace thereafter, boosted by the company’s entry into new markets like the water treatment market (using the technology from NanO2). We are projecting revenues to grow at a five-year CAGR of 9.3%, from $56.1M in 2019 to $87.4M in 2024.”
According to TipRanks.com, Dayal has 0 stars on 0-5 star ranking scale with an average return of -12.3% and a 34.7% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Capstone Turbine Corp, and Orion Energy Systems.
Fuel Tech has an analyst consensus of Moderate Buy, with a price target consensus of $2.
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Based on Fuel Tech’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $1.05 million. In comparison, last year the company had a GAAP net loss of $1.21 million.
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Fuel Tech, Inc. engages in the worldwide development, commercialization, and application of proprietary technologies for air pollution control, process optimization, combustion efficiency, and advanced engineering services. It operates through the following segments: Air Pollution Control, Fuel Chem and Fuel Conversion.
