Jennings Capital Initiates Coverage on Kelso Technologies (TSXV:KLS) with Speculative Buy Recommendation - Video Research Alert on InvestmentPitch.com

GlobeNewswire Europe

Vancouver, British Columbia, November 27, 2013 -. Investment firm Jennings Capital has initiated coverage on Kelso Technologies (KLS.V). Analyst Russell Stanley gives the company a speculative buy recommendation and a 12-month target price of $4.00, a premium of 20% to the $3.33 price the day the report was issued.

InvestmentPitch.com has produced a "video research alert" about Kelso based on this report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Kelso" in the search box.

Kelso Technologies produces and sells proprietary tank car components used in the safe loading, unloading and containment of hazardous materials during transportation. North American demand for tank railcars has increased significantly, owing in part to the growth in transporting crude oil by rail, with rail now responsible for shipping 11% of U.S. oil production of 7.1 million barrels per day, up from negligible volume several years ago. At the same time, media and regulatory scrutiny of the rail industry have increased noticeably, forcing industry participants to demonstrate their commitment to safety.

Kelso`s products address the safety shortcomings of the incumbents, and significant entry barriers position Kelso to build and maintain a strong market position quickly. The company is on track for revenue over $12 million for the full 2013 year, and is guiding to revenue of $24 million for 2014 and $42 million for 2015.

Analyst Russell Stanley stated, "Based solely on sales of its core products to the original equipment manufacturers` market, we believe that Kelso could be a $100 to $120 million revenue business in several years. The retrofit market could result in a substantial lift to our estimates, depending on the scale and timelines involved."

Kelso`s shares currently trade at $3.30, below the $4.00 target price, and with 42.4 million shares outstanding, the company is capitalized at $140 million.  For more information please visit the company`s website www.KelsoTech.com or contact James Bond, President and CEO at 250-764-3618 or email bond@KelsoTech.com.

For more information about Jennings Capital or to obtain a copy of their research report, contact your nearest Jennings Capital office. Their branches are listed on their website at www.jenningscapital.com.

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Source: InvestmentPitch via GlobeNewswire

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