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In a report issued Monday morning, Jefferies analyst Laurence Alexander downgraded shares of Westport Innovations Inc. (NASDAQ: WPRT) from Buy to Hold and lowered the price target from $7.25 to $5.25.
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Alexander commented, "We expect investors to focus on the cash burn and headwinds to vehicle adoption until oil prices move back above $100/bbl or the company's new product pipeline translates into renewed sales growth above a 20% CAGR."
He added that early-stage investors should focus on companies with catalyst likely to occur in the near-term. To that end, Alexander recommended Solazyme, which he currently rates a Buy.