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UPDATE: Jefferies Downgrades Westport Innovations As Oil Volatility Increases

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In a report published Monday, Jefferies analyst Laurence Alexander downgraded the rating on Westport Innovations Inc. (NASDAQ: WPRT) from Buy to Hold, and lowered the price target from $8.00 to $5.25.

In the report, Jefferies noted, “The recent downdraft in oil prices implies a flatter petrochemical cost curve, less demand for NGVs, a downshift in energy infrastructure capex, and a margin tailwind for downstream chemicals. Tilt towards the consumer, away from the cracker, and stay wary of whipsaws in soy (biodiesel) and corn (ethanol).”

Westport Innovations closed on Friday at $4.72.

Latest Ratings for WPRT

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

View More Analyst Ratings for WPRT
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Posted-In: Jefferies Laurence AlexanderAnalyst Color Downgrades Analyst Ratings

 

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