The Globe and Mail reports in its Thursday edition that RBC analyst Chris Dendrinos has reaffirmed his "sector perform" recommendation for Westport Fuel Systems. The Globe's David Leeder writes that Mr. Dendrinos cut his share target back by a buck to $10 (all figures U.S.). Analysts on average target the shares at $17.40. Mr. Dendrinos says in a note: "New CEO, Dan Sceli, introduced three initiatives that will be the focus for 2024 and going forward 1) drive success via the HPDI [High Pressure Direct Injection] JV, 2) improve operational excellence, and 3) reimagine a hydrogen powered future. Some progress on cost-cutting initiatives is already underway with headcount reductions during 2023 from reductions at a facility in Argentina, consolidation efforts in Italy, and the closing of the production plant in India. The company expects additional headcount reductions in 2024. We think Westport initiates more material changes with the closing of the Volvo JV and could also look to further consolidate the manufacturing footprint in Europe. The closing of the JV will also come with additional disclosures on operations, which will provide greater detail on the underlying performance of the JV and standalone OEM segment."