Market Overview

UPDATE: Piper Jaffray Initiates Fuel System Solutions at Overweight on Natural Gas Breakout

Related FSYS
UPDATE: Northland Capital Markets Reiterates On Fuel Systems Solutions Following Slightly Disappointing Results
Earnings Scheduled For August 18, 2014
Auto Parts Makers Drive Higher (Fox Business)

Piper Jaffray initiated coverage on Fuel System Solutions (NASDAQ: FSYS) with an Overweight rating and a $24 price target.

Piper Jaffray noted, "We believe 2013/2014 will represent a step change in the transition toward natural gas as a fuel for light commercial fleets, and FSYS is the cheapest way to invest in this theme. The company is not without its drawbacks: aftermarket ASP pressure and lumpy OEM orders make modeling a challenge, and 35%+ Europe exposure could also be a headwind. But we believe major North American OEM platforms - which are slated to ramp in Q4 - will drive estimates higher than consensus in 2013-2014 as light duty fleets steadily transition to CNG fuel."

Fuel System Solutions closed at $18.30 on Monday.

Latest Ratings for FSYS

DateFirmActionFromTo
Mar 2014Lake Street CapitalDowngradesBuyHold
Mar 2013MacquarieUpgradesUnderperformNeutral
Feb 2013Lake Street CapitalInitiates Coverage onBuy

View More Analyst Ratings for FSYS
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (FSYS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters