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Oppenheimer Keeps Their Buy Rating on Westport Fuel Systems Inc (WPRT)


Oppenheimer analyst Colin Rusch maintained a Buy rating on Westport Fuel Systems Inc (NASDAQ: WPRT) today and set a price target of $4. The company’s shares closed yesterday at $2.92.

Rusch wrote:

“The WPRT Analyst Day highlighted its extensive technical and manufacturing expertise as well as its increased management depth. While investors focus on growth from HPDI 2.0, which appears on track, we believe potential growth in light-duty CNG/LNG vehicles, particularly in the EU, is underappreciated. Conversations with customers suggest that business has the potential to grow as much as 7-10%+ annually for the next ~5 years as OEMs attempt to bring economic green solutions to market. We believe WPRT is uniquely positioned to benefit from growth in LPG/ CNG solutions while leveraging its restructured operations. We also believe WPRT is in ongoing discussion with CMI related to the long-term options on serving the market CWI has created, which we believe is not priced into WPRT shares.”

According to TipRanks.com, Rusch is a 4-star analyst with an average return of 8.1% and a 45.1% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.

Westport Fuel Systems Inc has an analyst consensus of Strong Buy, with a price target consensus of $5.25, implying a 79.8% upside from current levels. In a report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $6 price target.

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Based on Westport Fuel Systems Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.91 million. In comparison, last year the company had a GAAP net loss of $15.64 million.

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Westport Fuel Systems, Inc. engages in the manufacture of alternative fuel systems and components. It operates through the following business segments: Transportation, CWI Joint Venture and Corporate.