UPDATE: Cowen Starts American Superconductor (AMSC) at Outperform

(Updated - December 22, 2014 9:27 AM EST)

Cowen initiated coverage on American Superconductor (NASDAQ: AMSC) with an Outperform rating and a price target of $1.25.

Analyst Jeffrey Osborne said, "American Superconductor has come off of several years of restructuring and reorganizing, resulting from a large drop in its core customer base and broader revenue potential. Since 2012, the company has focused a targeted effort on growing its presence and product offering for wind manufacturers in India and China, and utility grid opportunities with its superconductor wire technology, as well as looking ahead toward broader industrial applications. We like its current positioning for potential upside in wind market dynamics and adoption of smart grid technologies, especially given its product diversification and recent trimming and refining of its workforce and overhead."

For an analyst ratings summary and ratings history on American Superconductor click here. For more ratings news on American Superconductor click here.

Shares of American Superconductor closed at $0.73 yesterday.

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