Zacks Investment Research upgraded shares of Maxwell Technologies Inc. (MXWL) from NEUTRAL to OUTPERFORM on March 26, 2013, with a target price of $6.75.
Maxwell Technologies Inc. continues to be the market leader in the budding ultracapacitor market. Recently, strong demand for hybrid electric buses led to positive results. Future top-line growth should be fueled by the expected increase in ultracapacitor sales through a production ramp-up for automotives, as well as its focus on improving its cost structure and the steady demand from heavy transportation, wind, braking recuperation and automotive programs. Therefore, Maxwell Technologies offers an enticing upside potential going forward. Hence, our Outperform recommendation with a target price of $6.75 remains in place.
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