UPDATE: Morgan Stanley Upgrades Westport Innovations to Equal-Weight
Morgan Stanley raises its price target to Equal-weight from Underweight on Westport Innovations (NASDAQ: WPRT) as it believes pullback on stock represents opportunities.
Morgan Stanley notes, "WPRT rose more than 250% in little more than a year but has since retreated 25% from last month's high. Recent macro and technical factors have exacerbated a pull back related to misunderstood news regarding the CMI JV, all of which provides a buying opportunity ahead of positive catalysts."
WPRT closed at $35.70 yesterday.
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