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Fly News Breaks for September 27, 2019
Sep 27, 2019 | 15:48 EDT
Craig-Hallum analyst Eric Stine kept his Buy rating $7 price target on Westport after its announcement earlier today of a settlement with the SEC over the FCPA investigation that has been underway since mid-2017. The analyst notes that the deal removes "great investor uncertainty", adding that the accrued financial impact of the investigation has also cost the company $12.7M in expenses. Stine states with the distraction behind the company now in the past, Westport can focus on its business, which he sees as a "key partner and enabler of its OEM partner/customers' alternative fuel offering" in global applications.