Information Provided By:
Fly News Breaks for May 30, 2019
TGLS
May 30, 2019 | 06:24 EDT
DA Davidson analyst Brent Thielman initiated Tecnoglass with a Buy rating and a price target of $9, saying its "advanced cost structure" and fast pace of growth in U.S. markets are "attractive" as traditional business sectors like office and lodging stage a recovery. The analyst also believes that the management's efforts to improve corporate governance and increase cash generation should appeal to a broader investment audience, as the stock transitions from a "more speculative growth play" and narrows its valuation discount relative to peers.