Roth Capital Cuts Price Target on Power Solutions (PSIX) to $75 Following In-Line EPS

Roth Capital maintained a Buy rating on Power Solutions (NASDAQ: PSIX), and cut the price target to $75.00 (from $90.00), following 2Q15 results. Power Solutions reported Revenue of $94.6m compared with $87.0m consensus. Adjusted EPS of $0.19 was in-line with consensus estimates.

Analyst Craig Irwin commented, "PSI reported 2Q15 inline as expected, and lowered guidance primarily for Oil & Gas weakness. On-road remains a bright spot, where we expect additional program announcements. 3PI was a ($0.13) EPS drag in 2Q15, and mgmt states it has already taken actions to fix this. We see current levels as a compelling entry point as visibility for '16 benefits from PSI's rapid progress with on-road customers, and we expect profit remediation at 3PI before committing to serve pent-up demand."

For an analyst ratings summary and ratings history on Power Solutions click here. For more ratings news on Power Solutions click here.

Shares of Power Solutions closed at $40.11 yesterday.

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