BUZZ-Westport Innovations Inc: Brokerages cut price targets

Tue Mar 10, 2015 11:03am EDT
 
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** Canadian auto parts supplier's U.S.-listed shares down 16.2 pct at $4.76; stock biggest percentage loser on Dow Jones Global Industrials Index

** Toronto-listed shares down 17.3 pct at C$5.94

** At least 4 brokerages cut price targets by as much as $3 to as low as $5 after company reports 48 pct fall in Q4 revenue late on Monday

** "We expect a big focus on cost cutting in the near term, but see limited near term catalysts for share price outperformance," Deutsche Bank Markets Research analysts write in note

** Up to Monday's close, U.S.-listed stock had fallen 39 pct since Sept. 30, when Westport forecast 2014 revenue below estimates