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UPDATE: Lake Street Capital Downgrades Westport Innovations Inc.

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Westport Innovations Inc. (USA) (NASDAQ: WPRT) had its rating lowered to Hold by Lake Street Capital Markets on Wednesday and its price target lowered from $45 to $20.

Analyst Robert D. Brown wrote that his firm was "disappointed in the reduced outlook and delay in new program launches. Westport had made good strides recently in reducing costs and introducing next-generation products. The launch of key new programs (Volvo, Weichai-HPDI) now looks to be pushed out 12 months as HPDI 2.0 injectors are launched and incorporated into engine designs."

Westport Innovations is a provider of alternative fueled engines focused on heavy- and medium-duty vehicles. The company is dependent on partner relationships and has faced difficulty as a result of market weakness in Europe and Russia.

Brown believed "shares can recover as the company executes and demonstrates resumed revenue growth and new engine rollouts, which should happen later in 2015."

Westport Innovations Inc. closed at $10.51 on Tuesday.

Latest Ratings for WPRT

DateFirmActionFromTo
May 2019UpgradesHoldBuy
Feb 2019DowngradesBuyHold
Sep 2018Initiates Coverage OnBuy

View More Analyst Ratings for WPRT
View the Latest Analyst Ratings

Posted-In: Lake Street Capital Markets Robert D. BrownAnalyst Color Downgrades Price Target Analyst Ratings

 

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