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Fly News Breaks for February 28, 2020
TPIC
Feb 28, 2020 | 08:51 EDT
Craig-Hallum analyst Eric Stine raised the firm's price target on TPI Composites to $29 from $26 and keeps a Buy rating on the shares following the company's Q4 results and 2020 guidance that was consistent with what was provided at its early-February investor day. Stine tells investors in a research note that while TPI has an uneven track record recently of executing against its guidance, the underlying trends within its business are healthy while it seeks to execute against its operational initiatives. He thinks that while there is still uncertainty as to whether it can make up for the disruption in early 2020 and if COVID-19 impacts other markets, he points to attractive valuation and 10%+ revenue and 20%+ EBITDA growth along with optionality from the clean transportation growth opportunity.
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