DA Davidson Downgrades Otter Tail (OTTR) to Underperform
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DA Davidson downgrades Otter Tail Corp. (Nasdaq: OTTR) from Neutral to Underperform. The firm maintains a $35 price target on the stock.
The firm believes Otter Tail's recent run-up (up 18% since mid-March) has been caused by "increased speculation and attention geared towards the company’s wind tower manufacturing business, DMI Industries."
DA Davidson notes that Otter Tail is expected to report Q1 earnings on Monday.
Otter Tail Corporation, together with its subsidiaries, engages in the production, transmission, distribution, and sale of electric energy in the United States and internationally. [BCS]
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