Cantor Fitzgerald Has A Buy On Energy Recovery (ERII)
Symbols: ERII
Cantor Fitzgerald released a report today, reiterating their Buy rating on shares of Energy Recovery Inc. (NASDAQ: ERII). Although the company reported a "lackluster quarter," the analyst said that the firm remains "very bullish on the outlook for desalination plants around the world and we continue to expect the pent-up demand will lead to an acceleration of project deployments over the next several years." Cantor Fitzgerald has a price target of $10.00 on the stock.
During today's trading, the shares have lost 6.91% after reporting earnings. ERII stock is currently exchanging hands for $6.21. Energy Recovery, Inc. is engaged in developing, manufacturing and selling energy recovery devices for the desalination of sea water.
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