In a report published Monday, Jefferies & Company reiterated its Hold rating on Energy Recovery ERII, and slightly 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in