Oppenheimer analyst Colin Rusch maintained a Buy rating on Westport Innov (NASDAQ: WPRT) today and set a price target of $4. The company’s shares opened today at $2.60.
Rusch observed:
“WPRT delivered on its promise to deliver positive EBITDA in 2Q:18 as it adjusted guidance for the sale of its compressor business. With a new CFO now in place, we believe the company is going through a fresh round of thorough and thoughtful financial planning and would expect WPRT to update its targets at the conclusion of that process. In the meantime, we believe 2Q:18 results demonstrated the potential earnings leverage of the business as revenue scales. Given the extensive restructuring WPRT has undergone, we are encouraged to see management staying the course over the near term, but beginning to evaluate how to best expand its business leveraging its unique IP position. We see the potential for a multi-leg growth story and remain constructive.”
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 12.8% and a 50.5% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.
Westport Innov has an analyst consensus of Moderate Buy, with a price target consensus of $4.
See today’s analyst top recommended stocks >>
Based on Westport Innov’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $14.25 million. In comparison, last year the company had a net profit of $32.27 million.
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.
