SOURCE: Vista Partners LLC
SAN FRANCISCO, CA--(Marketwire - Mar 27, 2013) - Vista Partners announced today that it has updated coverage on Power Solutions International, Inc. (OTCBB: PSIX) ("The Company," or "PSIX"); and raised its twelve month price target from $26.00 to $37.50. Ross Silver, Principal Analyst at Vista Partners, stated, "PSIX provided its initial outlook for sales growth for 2013 and 2014. Sales in 2013 are targeted to be in a range of $225 to $235 million. Sales in 2014 are targeted to be in a range of $310 to $330 million." Mr. Silver continues, "The new product introductions of 2L and 2.4L engines for the forklift markets, the transition from 8.1L Doosan engine to proprietary 8.8L hybrid engines and new alternative fuel engines and hybrid solutions, should drive 2013-2015 sales growth and profitability. PSIX recently announced a multi-year supply agreement with General Motors (GM) that will extend the company's product line targeted at On-Highway applications." Mr. Silver concludes, "The robust secular trend to alternative-fuel power systems in industrial markets, along with PSIX's comprehensive product line, seemingly could position them well for future growth."
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