Oppenheimer Initiates Coverage On Insituform Technologies

According to Oppenheimer, Insituform Technologies INSU is the leading, worldwide provider of trenchless sewer rehabilitation services and also provides corrosion protection for pipeline systems. Oppenheimer said that it is initiating coverage of Insituform Technologies with a Perform rating. “We believe INSU is in the early stages of a turnaround and that its portfolio transformation continues to take shape. We are favorable on Energy & Mining prospects; however, we see some execution headwinds near-term, particularly in the water main and Indian markets. Also, state & local government budgets and pricing pressures are likely to remain headline risks. Valuation appears to discount risk, but we see limited upside until traction on growth opportunities takes hold.” Insituform Technologies closed on Friday at $25.95.