UPDATE: KeyBanc Capital Markets Initiates Westport Innovations at Hold on Near-Term Risks
KeyBanc Capital Markets initiated its coverage on Westport Innovations (NASDAQ: WPRT) with a Hold rating.
KeyBanc Capital Markets commented, "We believe the Company's growth prospects are impressive, but caution that some of the near-term risks are not fully discounted by the market. We are particularly concerned about the recent change in the JV status and investors' expectations about Westport's 15L engines. We would look to become more constructive on shares at a lower valuation and/or in anticipation of increased visibility into the CWI JV, 15L shipments, HD volumes in China and/or the natural gas infrastructure buildout."
Westport Innovations closed at $30.02 on Tuesday.
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Tags: KeyBanc Capital Markets