Westport Innovations WPRT has been downgraded by Jefferies & Co. from Buy to Hold, given the likely slowdown in orders. The price target has also seen a downward revision to $20 from the previous level of $23.
Westport’s CNG/LNG technology for heavy vehicles puts it in a good position to leverage the mass adoption of natural gas engines. The growing environmental and economic considerations are another boost. However, markets are currently risk-averse and near-term orders are likely to be rather erratic. The stock is likely to prove a good buy in the second half of 2010.
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Posted In: Analyst ColorDowngradesPrice TargetAnalyst RatingsAuto Parts & EquipmentConsumer DiscretionaryJefferies & Co.
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