Zoltek (ZOLT -6.3%) shares are downgraded to Underperform from Hold at Needham, choosing a...

|About: Zoltek Companies, Inc. (ZOLT)|By:, SA News Editor

Zoltek (ZOLT -6.3%) shares are downgraded to Underperform from Hold at Needham, choosing a "conservative stance" even after the carbon fiber producer's strong quarter. The firm says the wind industry’s migration toward larger turbines should benefit ZOLT, but is concerned about when project-based work will convert to supply agreements and “sustainable commercial revenues.”