Westport Innov Receives a Buy from Oppenheimer

In a report released today, Colin Rusch from Oppenheimer maintained a Buy rating on Westport Innov (NASDAQ: WPRT), with a price target of $4. The company’s shares opened today at $2.84.

Rusch noted:

“WPRT posted upside to revenue and adjusted EBITDA for 1Q18 while reiterating guidance for reaching EBITDA breakeven by the end of 2Q:18. We believe the company’s restructuring is paying dividends and the important growth drivers are in place with HPDI 2.0, a broad portfolio that even reaches into hydrogen-based vehicles. We believe WPRT investors are encouraged by the company providing FY guidance, even as it is roughly in line with Street expectations. We view TOT taking a stake in CLNE as evidence of the ongoing diversification of transportation fuels and believe WPRT has both a strong IP and product position to benefit from that diversification. We increase our PT to $4 from $3.50 and remain buyers.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 15.9% and a 51.4% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Canadian Solar Inc, and Fuelcell Energy.

Westport Innov has an analyst consensus of Moderate Buy, with a price target consensus of $3.25.

See today’s analyst top recommended stocks >>

The company has a one-year high of $4.33 and a one-year low of $1.33. Currently, Westport Innov has an average volume of 683.1K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.