Westport price target lowered to $15 from $23 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Westport to $15 from $23 and keeps a Buy rating on the shares. The firm notes Westport Fuel Systems reported solid Q3 results with a modest revenue beat led by D-OEM, fuel storage, and HPDI volumes with Volvo and EBITDA better than Street expectations. All in all, Westport continues to show solid momentum and positive trends across its light-duty business with a strong global presence and comprehensive product offering, Craig-Hallum adds.