UPDATE: Lake Street Capital Initiates Fuel Systems at Buy on Secular Shift in Alternative Fuels

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Lake Street Capital initiated coverage on Fuel Systems
FSYS
with a Buy rating and an $18.00 price target. Lake Street Capital said, "Although we would not be surprised to see an earnings shortfall for Q4-12 (to be reported March 8) and a lowering of forward estimates (our 2013 estimates are set below consensus), we believe it is time to revisit Fuel Systems. Earnings likely bottomed in Q4 and are set to re-accelerate, the stock is inexpensive (4.8x EV/EBITDA), and the company is in a strong position to see growth from the secular shift to natural gas vehicles." Fuel Systems closed at $13.70 on Friday.
Posted In: Analyst ColorInitiationAnalyst RatingsLake Street Capital
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