UPDATE: JPMorgan Downgrades TPI Composites (TPIC) to Neutral on Valuation

February 11, 2020 4:30 AM EST
Get Alerts TPIC Hot Sheet
Price: $36.73 +4.64%

Rating Summary:
    12 Buy, 4 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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(Updated - February 11, 2020 4:34 AM EST)

(updating comment)

JPMorgan analyst Paul Coster downgraded TPI Composites (NASDAQ: TPIC) from Overweight to Neutral with a price target of $24.00.

The analyst comments "We are downgrading TPIC to Neutral on valuation; the stock is up 30% YTD (S&P500 up 3.6%), is trading close to our PT and looks close to fair value in our view. In addition, the company faces potential disruption to China-based operations very near-term owing to the coronavirus outbreak, and we believe traditional wind investors are likely to be skeptical of the firm's prospects as we close in on 2021, an industry-wide down-year for GW shipments."

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 $24.00 yesterday.

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