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Tuesday, March 28, 2017 4:21:46 PM
Power Solutions International (PSIX +25.5%) is upgraded to Hold from Sell with a $9 price target at Lake Street, which says the strategic investment by Weichai has removed the risk of bankruptcy.
Lake Street says the deal also adds the largest engine manufacturer in China as a strategic partner that accelerates PSIX's efforts in China and results in sourcing and manufacturing synergies.
The firm thinks Weichai's $8/share valuation price of the investment - a 25% premium to yesterday's closing price - is an attractive valuation of 9x EV/EBITDA based on its 2017 EBITDA estimate.
Recent PSIX News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/10/2024 08:30:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/06/2024 08:30:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/06/2024 12:22:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/03/2024 08:45:37 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 08:44:13 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/31/2024 08:30:29 PM
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