Westport Fuel Systems Inc (WPRT) Gets a Buy Rating from Oppenheimer


Oppenheimer analyst Colin Rusch maintained a Buy rating on Westport Fuel Systems Inc (WPRT) yesterday and set a price target of $4. The company’s shares closed yesterday at $1.50, close to its 52-week low of $1.17.

Rusch observed:

“WPRT posted 4Q18 revenue in line with consensus, but GM disappointed, driving EBITDA lower. 2019 guidance at midrange was 5% below expectations. As WPRT goes through its CEO transition while seeking a new CFO, we believe the company is likely continuing to guide conservatively. We also believe investors are looking for the company to demonstrate margin improvement and operating leverage as it grows. With a stated goal of finding an additional HPDI 2.0 customer and showing market traction in China, we believe WPRT has the correct focus in growing revenue, noting we continue to believe its light-duty business has potential to show upside in 2019. We look to the EU CO2 standards vote in April as the next catalyst for shares.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 12.6% and a 51.7% 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 Moderate Buy analyst consensus rating for Westport Fuel Systems Inc with a $4.33 average price target.

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The company has a one-year high of $3.77 and a one-year low of $1.17. Currently, Westport Fuel Systems Inc has an average volume of 763.7K.

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

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