- Bear, Lehman Execs Weren't Wiped Out by Crisis: Study
- How Real Estate Investors Skew Housing's Reality
- Wall Street 'Bonuses' Disappearing—but Only in Name
- Even Buffett's Huge Fame Can't Help the Name 'Warren'
- Wave of Debt Payments Facing US Government
- JPMorgan's Dimon Could Succeed Geithner: Report
- Maria Blog: Are Crazy Retail Deals Good for Business?
- Treasury Auction of $44 Billion Gets Good Response
- Suze Orman’s 'A Healthier, Wealthier You'
- Help Wanted—Please Run $4 Billion University
- Apple Comes to AT&T's Rescue
- Rally Could 'Have Some Legs in 2010': Market Strategist
- Investors May Skew Housing Reality
- Buffett's Wealth and Fame Hasn't Helped 'Warren' As a Name
- Are Crazy Retail Deals Good for Business?
- Expect a 'Square Root-Shaped' Recovery: Chief Investor
- Madoff—The Holiday Drink
- HP to Feed on Enterprise Spending Next Year: Tech Analyst
- New York manufacturer reopens idle upstate plant
- MGP Ingredients to reopen Illinois plant
- Analyst upgrades Silver Wheaton on production rise
- Skilled Healthcare names Rosenstock to board
- Plan: NH state parks system needs direct funding
- Canada's CGX to drill for oil, gas in Guyana
- Greece: NBG's Q3 profit down 25 pct
- How the poll on debt stress was conducted
- 3 American Water Works board members resign
Text Size 
NEW YORK - Shares of Westport Innovations Inc., whose equipment enables cars to run on natural gas, rose Monday after it announced a long-term contract with Swedish car and truck maker Volvo.
The Vancouver, Canada, company will supply its technology to Volvo and work with it to find appropriate suppliers for Volvo's heavy duty natural gas engines.
Westport said the engines are expected to meet future European emission requirements.
Lazard Capital Markets analyst Graham Mattison said the agreement will "lead to Westport's technology being incorporated into the engines of another leading original engine manufacturer, providing further endorsement of its technology and the growing demand for natural gas engines and, more importantly, significantly increasing the company's addressable market opportunity."
Mattison, who has a "Buy" rating on Westport Innovations and a $15 price target, also said he expects the company will announce similar agreements with other major engine manufacturers.
Westport technology enables engines to run on compressed natural gas, liquefied natural gas, hydrogen and biofuels such as methane gas collected from landfills.
In afternoon trading, shares rose $1, or 9 percent, to $12.11. In the last 12 months the stock has ranged from $3.01 to $13.32.
Print
Email
- The show attracts a big TV audience every year, but this year it may take on even more importance.
- …you'll want to be prepared. Tips for getting the most out of the post-Thanksgiving shopping frenzy.
- Congressman Ron Paul explains to Squawk Box why he’s pushing legislation to audit the Federal Reserve.
- CNBC’s Phil LeBeau took a test drive of GM’s flagship electric car. Here’s what he thought of the Volt.
- The energy company Power Efficiency is building tools that regulate the power electric motors use.
- CNBC’s technology reporter Jim Goldman guides you through the best gadgets to buy this holiday season.
Data is a real-time snapshot *Data is delayed at least 15 minutes