Power Solutions International Inc. (PSIX): Power Solutions upgraded to Hold at Lake...

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Re: BSWB post# 94

Tuesday, 03/28/2017 4:21:46 PM

Tuesday, March 28, 2017 4:21:46 PM

Power Solutions upgraded to Hold at Lake Street on Chinese investment
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.

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