In a report released today, Noah Kaye from Oppenheimer maintained a Buy rating on Maxwell Technologies (NASDAQ: MXWL), with a price target of $7. The company’s shares closed yesterday at $5.38.
Kaye said:
“MXWL reported 1Q18 revenue/EPS in line with its pre-announcement and guided 2Q18 slightly below consensus with mix driving lower GM outlook. However, the standout development in the quarter was the announcement of MXWL’s design win with Geely/Volvo for an ultracapacitor-based power electronics module to provide peak power support in mild and plug-in hybrid vehicles. We note the relatively short time to revenue, with production beginning in late FY19, which—combined with the fact that MXWL is here providing a complete solution rather than componentry—may be indicative of MXWL’s ability to help solve OEM power architecture problems late in the design cycle. We maintain our Outperform rating and $7 price target.”
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 5.2% and a 51.9% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as BorgWarner, Cummins, and EnerSys.
Maxwell Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $7.
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The company has a one-year high of $6.61 and a one-year low of $4.29. Currently, Maxwell Technologies has an average volume of 145.3K.
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Maxwell Technologies, Inc. engages in the development, manufacture, and marketing of energy storage and power delivery solutions. It operates through the following product lines: Ultracapacitors, High-Voltage Capacitors, and Radiation-Hardened Microelectronic Products.
