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UPDATE: Wedbush Reiterates Outperform Rating, Raises PT for Exide Technologies

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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.

Latest Ratings for XIDE

DateFirmActionFromTo
Apr 2013WedbushDowngradesOutperformNeutral
Nov 2012Ardour CapitalDowngradedHoldReduce
Jun 2012Wedush SecuritiesMaintainsOutperform

View More Analyst Ratings for XIDE
View the Latest Analyst Ratings

Posted-In: Wedbush SecuritiesAnalyst Color Price Target Reiteration Analyst Ratings

 

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