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Energy Recovery racks up gain as Jefferies upgrades to Buy

Sep. 13, 2016 3:56 PM ETEnergy Recovery, Inc. (ERII) StockERIIBy: Carl Surran, SA News Editor6 Comments
  • Energy Recovery (ERII +2.3%) is a rare gainer among any stock with "energy" in its name, as Jefferies upgrades shares to Buy from Hold with a $20 price target, raised from $8, adding that a robust project signings environment could propel the stock to $34.
  • The firm says ERII has begun to deliver on "high incremental margins, recovery in the core desalination market and... harvesting fluid pressure in high-pressure and toxic environments," and that sales could reach $180M over the next year as new technology improves efficiency and installation cycles begin outside the U.S.
  • Jefferies says the risk premium on the stock could lower as ERII hits key fracking milestones in H1 2017 and chemical applications targets through 2017-18.

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