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


According to The Fly, shares of Westport Fuel Systems (WPRT) were revisited by a Wall Street analyst today. The company received a Buy rating from Oppenheimer’s analyst Colin Rusch.

Rusch commented:

“WPRT followed up a record quarter with another solid result showing modest upside to revenue and Adjusted EBITDA expectations while updating guidance in line with Street expectations. We believe WPRT continues to make important progress on critical initiatives including growing sales of light duty vehicles in Europe, introducing HPDI 2.0, and signing a take or pay supply agreement with Weichai Westport. Cost savings efforts are largely complete, and focus for WPRT is now on growing sales and showing operating leverage. Going forward we believe investors will be looking for revenue growth, resolution to SEC investigation-related costs, progress on clarifying the relationship with CMI as the CWI JV reaches end of life, and lower interest expenses.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 10.7% and a 51.3% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Westport Fuel Systems with a C$6 average price target.

The company has a one-year high of C$5.44 and a one-year low of C$2.71. Currently, Westport Fuel Systems has an average volume of 62.56K.

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.

The company’s shares closed on Thursday at C$3.68.