UPDATE: JPMorgan Downgrades TPI Composites (TPIC) to Neutral on Valuation
- Wall Street closes rollercoaster week sharply lower
- Invesco (IVZ) Reportedly in Talks to Merge With State Street's (STT) Asset Management Business, Citi Sees More Cons than Pros
- FDA Votes "No" on Pfizer (PFE) Booster for 16+ Age Group, 2 Yes 16 No
- Jefferies Raises Price Targets on Alphabet (GOOGL) and Facebook (FB) as They Are Still Inexpensive Relative to Growth, Reiterates Snap (SNAP) as a Best Growth Idea
- Tesla (TSLA) Could Deliver 900K EV Units This Year and 1.3M in 2022 - Wedbush
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.
You May Also Be Interested In
- Lloyds Banking Group Plc. (LLOY:LN) (LYG) PT Raised to GBP0.60 at Deutsche Bank
- Advance Residence Investment Corp. (3269:JP) (ADZZF) PT Raised to JPY369,500 at Goldman Sachs
- SUSE S.A. (SUSE:GR) PT Raised to EUR46 at Goldman Sachs
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesJPMorgan, Standard & Poor's
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!