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UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Energy Recovery

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In a report published Monday, Jefferies & Company reiterated its Hold rating on Energy Recovery (NASDAQ: ERII), and raised its price target from $2.60 to $3.00.

Jefferies noted, “Q3 results were $0.01 below our forecast, mostly due to higher marketing investments. We still expect 2013E to be near breakeven, and now forecast $0.35 in EPS by 2016E assuming the company can leverage differentiated technology, core end markets recovering, and share gains in adjacencies. With 1H13 likely to present a better entry point, we reiterate our Hold rating.”

Energy Recovery closed on Friday at $2.83.

Latest Ratings for ERII

DateFirmActionFromTo
Sep 2016Evercore ISI GroupInitiates Coverage onBuy
Sep 2016iBERIA Capital PartnersMaintainsOutperform
Sep 2016iBERIA Capital PartnersInitiates Coverage onOutperform

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Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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