Westport Innovations Price Target Lowered to $16.00 at National Bank (WPRT)
Posted by Stuart Ham on Nov 13th, 2012 // No Comments
Westport Innovations Inc. logoWestport Innovations (NASDAQ: WPRT) had its target price cut by National Bank from $18.00 to $16.00 in a research note issued to investors on Friday. The firm currently has an underperform rating on the stock.
“WPRT continues to roll out new development partnerships from all corners of the global engine market, most recently with Tata. It is likely that there will be more partnerships to come. Although we model aggressive growth assumptions, some of these relationships may not generate future profits…With our aggressive growth assumptions, valuation remains challenging. There are many moving parts and losses could continue for a few years.,” National Bank’s analyst wrote.
WPRT has been the subject of a number of other recent research reports. Analysts at Goldman Sachs initiated coverage on shares of Westport Innovations in a research note to investors on Wednesday, November 7th. They set a sell rating and a $21.00 price target on the stock. Separately, analysts at Mackie cut their price target on shares of Westport Innovations from $50.00 to $43.00 in a research note to investors on Wednesday, October 31st. They now have a buy rating on the stock. Finally, analysts at Pi Financial cut their price target on shares of Westport Innovations from $30.00 to $19.00 in a research note to investors on Wednesday, October 31st. They now have a sell rating on the stock.
Shares of Westport Innovations traded up 3.81% during mid-day trading on Friday, hitting $27.54. Westport Innovations has a one year low of $21.93 and a one year high of $50.19. The company’s market cap is $1.510 billion.