Westport Fuel's Revenues To Grow At 10-Year CAGR Of 17%, Analyst Forecasts
Portfolio Pulse from Nabaparna Bhattacharya
H.C. Wainwright analyst Amit Dayal has reiterated a Buy rating on Westport Fuel Systems Inc (NASDAQ:WPRT), raising the price target to $30 from $7. This is due to the completion of the consolidation of its common shares and the signing of a non-binding letter of intent to establish a joint venture for the commercialization of the company's HPDI fuel system technology. The analyst projects the company's revenues to increase from $329.2 million in 2023 to $1.6 billion in 2033 at a ten-year CAGR of approximately 16.9%.
July 26, 2023 | 6:51 pm
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POSITIVE IMPACT
Westport Fuel Systems' stock price may increase in the short term due to the raised price target and positive revenue projections by H.C. Wainwright analyst Amit Dayal.
The raised price target and positive revenue projections by the analyst are strong indicators of potential growth for the company, which could lead to an increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100