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Fly News Breaks for January 26, 2018
AMSC
Jan 26, 2018 | 08:34 EDT
Roth Capital analyst Philip Shen noted that Sinovel was convicted by a federal jury for conspiracy, theft, and fraud, but he pointed out that the DOJ, not AMSC, would be the beneficiary of up to $4.8B in fines from Sinovel related to the ruling and that the timeline for AMSC to see results could be lengthy. AMSC, which is seeking $1.2B in damages in Chinese courts, could benefit if the Trump Administration uses this jury ruling as leverage for AMSC's case in China, added Shen. He keeps a Buy rating and $10 price target on AMSC shares.
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