UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Energy Recovery
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
|Mar 2015||Ardour Capital||Downgrades||Accumulate||Hold|
|Aug 2014||Credit Suisse||Maintains||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.