UPDATE: JPMorgan Downgrades TPI Composites (TPIC) to Neutral on Valuation
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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."
Shares of TPI Composites closed at $24.00 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesJPMorgan, Standard & Poor's
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