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Fly News Breaks for October 24, 2019
Oct 24, 2019 | 08:20 EDT
Raymond James analyst Pavel Molchanov initiated coverage of Energy Recovery with an Outperform rating and $12 price target. In a research note to investors, Molchanov says Energy Recovery is a differentiated, "niche" play on the mainstreaming of desalination, via its dominant role in supplying pressure exchangers, a small but critical component used in desalination plants. The development-stage VorTeq and MTeq products for oilfield activity provide somewhat binary catalysts that are impossible to gauge vis-a-vis probability and timing, and Molchanov says the stock is pricing in little to no credit for these opportunities.
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