J.P. Morgan begins coverage of Westport Fuel Systems with 'neutral' rating

Westport Fuel Systems

09/09/2021 13:55

** J.P. Morgan initiates coverage of clean fuel systems
maker Westport Fuel Systems Inc  WPRT.TO  with "neutral" rating
and sets PT at $5
    ** Brokerage says WPRT is pure-play in reducing carbon
emissions in passenger vehicles and trucking
    ** Says WPRT is poised to rapidly scale production of its
flagship HPDI product to support low-cost conversion of
heavy-duty truck fleets to low-carbon fuels
    ** HDPI system enables heavy-duty trucks to operate on
natural gas with reduced fuel costs, lower CO2 emissions 
    ** HPDI could be potential game changer, and is still
relevant with zero carbon hydrogen as fuel source - JPM
    ** Brokerage projects that over the next several years more
of the mindshare of fleet operators and investors will shift to
EVs and fuel-cell companies, especially as cost of batteries,
fuel cells and hydrogen continue to decline
    ** Stock down ~31% YTD, as of last close 

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))