JPMorgan Upgrades TPI Composites (TPIC) to Overweight

April 6, 2020 4:39 AM EDT
Get Alerts TPIC Hot Sheet
Price: $37.68 -10.16%

Rating Summary:
    12 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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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."

For an analyst ratings summary and ratings history on TPI Composites click here. For more ratings news on TPI Composites click here.

Shares of TPI Composites closed at $13.31 yesterday.

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