JPMorgan Upgrades TPI Composites (TPIC) to Overweight
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
JPMorgan analyst Paul Coster upgraded TPI Composites (NASDAQ: TPIC) from Neutral to Overweight with a price target of $22.00 (from $24.00).
The analyst comments "We are upgrading TPIC to Overweight. TPIC is trading at 3.3 times our 2020 EV/EBITDA (Adj) forecast, which is ~40% discount to the three-year mean, and a discount to the TPIC comp group. We view this as an attractive multiple for a company that should resume growth in FY21. In upgrading to Overweight we expect TPIC to outperform the mean of our coverage universe over the next 6 - 12 months."
Shares of TPI Composites closed at $13.31 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Loop Capital Upgrades Anaplan Inc. (PLAN) to Hold
- UPDATE: Stephens Assumes Coverage on The Trade Desk (TTD), Upgrades to Overweight
- Acer Inc. (2353:TT) PT Lowered to NT$21.50 at Morgan Stanley
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Upgrades, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!