UPDATE: Wedbush Reiterates Outperform Rating, Raises PT for Exide Technologies
In a report published earlier today, Wedbush Securities Inc. reiterated its Outperform rating for Exide Technologies (NASDAQ: XIDE) and slightly raised its price target from $5.00 to $6.00.
Wedbush went on to say “We believe Exide is a long-term turnaround story, as this global lead acid battery manufacturer, with a leading brand, has repeatedly stumbled on strategic issues, hindering the company's ability to leverage the natural cost advantage from complete vertical integration with battery recycling in the Americas to achieve the $350m EBITDA target set at the 2004 Ch-11 exit.”
Exide Technologies closed on Friday at $2.82.
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