In this article, I analyze five of my best value stock ideas with impending catalysts. These stocks could see significant upside as each catalyst ignites the share price. Please use my analysis as a starting point in your own research.

Westport Innovations Inc (WPRT): Westport stock has been range-bound between $26.00 and $32.00 per share. But it may just be gathering steam for a run at its 52 week high of $34.23 per share. Some good news out of Washington this week may not be fully priced into the stock, and if the tax credit for alternative-fuel vehicles bill passes, it may be the catalyst that gets this train rolling.

Speaking of trains, Westport Innovations has recently partnered with Electro-Motive Diesel (EMD) to incorporate the company’s high pressure direct injection technology and natural gas fuel system technologies into locomotives built for Canadian National Railways (CN). This will legitimize the technologies in a big way, and you can be sure other railroad companies are taking notice and monitoring the developments (see this article).

Another benefactor of the tax credit bill will be Westport’s only real competitor in this burgeoning technology — Clean Energy Fuel Corporation (CLNE) and its subsidiary BAF, which have an ongoing relationship with Ford Motor Company (F) that is advancing (see this article). Both companies have low PEG ratios: Clean Energy Fuel Corporation has a PEG of -.83 and Westport Innovations Inc has a PEG of -.88 most likely reflecting the streets disbelief that any vehicle will run (profitably) on anything but petroleum in the near future.To continue reading, click here.