|Over a week ago|
TPI Composites initiated with a Buy at Stifel » 16:1004/0704/07/21
Stifel analyst Stephen…
Stifel analyst Stephen Gengaro initiated coverage of TPI Composites with a Buy rating and $70 price target. The company is "uniquely positioned" as the only independent global manufacturer of composite wind blades to capitalize on the expected rise in wind power installations over the next decade, Gengaro tells investors in a research note.
|Over a month ago|
TPI Composites price target lowered to $46 from $51 at JPMorgan » 07:3703/0803/08/21
JPMorgan analyst Paul…
JPMorgan analyst Paul Coster lowered the firm's price target on TPI Composites to $46 from $51 and keeps a Neutral rating on the shares. The analyst reduced price targets across the Alternative Energy space. Fundamentals remain "solid" with potential catalysts from government stimulus, but the ongoing market rotation from growth to value stocks may have a lingering effect on multiples, particularly the more speculative stocks, Coster tells investors in a research note. He believes long-term investors "should stay the course," and recommends "being nimble and potentially adding to positions on pullbacks."
TPI Composites price target raised to $60 from $56 at Roth Capital » 07:0803/0203/02/21
Roth Capital analyst…
Roth Capital analyst Philip Shen raised the firm's price target on TPI Composites to $60 from $56. There appears to be uncertainty around 2H21 demand due in part to blade overcapacity and working capital optimization by customers. OEMs are working on visibility into 2022 and, as a result, the outlook is a little unclear for TPI Composites, Shen tells investors in a research note. Despite the near-term headwinds, Shen keeps a Buy rating on the shares on upside policy catalysts under the Biden Administration or Green Deal in Europe.
Fly Intel: Top five analyst downgrades » 09:5402/2602/26/21
MGPI, BBY, FATE, TREE, TPIC
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. MGP (MGPI) downgraded to Hold from Buy at Truist with analyst Bill Chappell stating that his prior thesis of the pandemic driving premium spirit growth and industrial alcohol profitability has been "fully lapped" and now reflected in the price. 2. Best Buy (BBY) downgraded to Outperform from Strong Buy at Raymond James with analyst Bobby Griffin saying he still believes that Best Buy's best-in-class fulfillment capabilities, high mix of essential items, and well positioned peer services/GreatCall initiatives should propel it to gain further market share over both the near-term and long-term, but tells investors in a research note that the downgrade reflects current valuation that does not offer sizable multiple re-rating potential in the coming months and challenging comp sales comparisons. 3. Fate Therapeutics (FATE) downgraded to Neutral from Outperform at Wedbush with analyst David Nierengarten saying while he appreciates the breadth of Fate's technology, from current share price levels, and now that several proofs of concept have been made, de-risking its novel approaches, going forward, he sees higher downside risk and less reward as clinical programs advance and begin to be compared to standards of care. 4. LendingTree (TREE) downgraded to Underperform from Market Perform at Northland with analyst Mike Grondahl saying the company's Q4 report and Q1 guidance was "not exciting, especially on the bottom line." 5. TPI Composites (TPIC) downgraded to Hold from Buy at Craig-Hallum with analyst Eric Stine citing what he views as "soft" 2021 EBITDA guidance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TPI Composites guidance 'confusing at first glance,' says Morgan Stanley » 08:5202/2602/26/21
Morgan Stanley analyst…
Morgan Stanley analyst Laura Sanchez said TPI Composites reported "strong" Q4 results but gave initial 2021 guidance that "appears confusing at first glance," and she believes the lower than expected 2021 EBITDA margins guidance is what is weighing on the stock following the report. However, while move of dedicated lines out of China drives costs and may suggest attrition, she notes that the same two customers associated with the closed lines have added/extended contracts in other locations. She views 2021 as a year of transition from a margins perspective for TPI Composites, but thinks long-term fundamentals haven't changed and Sanchez keeps an Overweight rating and $77 price target on the shares.
TPI Composites downgraded to Hold from Buy at Craig-Hallum on valuation » 08:3302/2602/26/21
Craig-Hallum analyst Eric…
Craig-Hallum analyst Eric Stine downgraded TPI Composites to Hold from Buy with a price target of $63, up from $46, following the company's mixed Q4 results and "soft" FY21 EBITDA guidance. Stine tells investors in a research note that while the overall wind demand environment remains strong, this was attributed to the rationalization of capacity near-term as certain producers diversify away from China and balance the dynamic of larger blades meeting demand and requiring lower production levels.
TPI Composites downgraded to Hold from Buy at Craig-Hallum » 08:2702/2602/26/21
Craig-Hallum analyst Eric…
Craig-Hallum analyst Eric Stine downgraded TPI Composites to Hold from Buy with a price target of $63, up from $46, citing what he views as "soft" 2021 EBITDA guidance.
TPI Composites reports Q4 EPS 14c, consensus 12c » 16:2702/2502/25/21
Reports Q4 revenue…
Reports Q4 revenue $465.6M, consensus $449.69M.2020, "with the backdrop of a difficult operating environment due to COVID-19, we delivered double digit revenue and adjusted EBITDA growth. These results speak to our business model and our team's ability to adapt and stay nimble in a dynamic macro landscape." "Strong long-term demand prospects for wind in the U.S. and globally, driven by economics as well as the acceleration of decarbonization initiatives, give us confidence in our global wind strategy as we continue to serve our customers in an efficient and cost-effective manner across our global manufacturing footprint. As it relates to our transportation business, we expect there will be an increased demand for composite components and structures for electric vehicles as composite material systems can be the key material building blocks for purpose built electric vehicles. Our composite solutions are ideally suited for transportation applications because of the benefits resulting from weight reduction and therefore extended range for EVs, corrosion resistance, strength, durability, a lower upfront production investment and lower total cost of ownership for end users. The level of interest in our capabilities continues to grow and we are collaborating with our customers to develop innovative composite solutions for vehicles across passenger automotive, bus, truck, and delivery vehicles. Today, we are building composite bodies for buses and delivery vehicles, components for multiple passenger automotive platforms under technology development and pilot production agreements, and while continuing to make the investments needed to build out our team, technology and infrastructure required to drive new innovations and capitalize on the accelerating EV and light weighting trends."
Charged: Tesla discloses $1.5B bitcoin investment » 08:4902/1302/13/21
TSLA, SNPR, FSR, RMO, RIDE, SEDG, GNRC, NOVA, RUN, ENPH, SPWR, FSLR, ARRY, JKS, CSIQ, DQ, MAXN, HASI, TPIC, AMSC, VLDR, VNE, HYMTF
Welcome to The Fly's…
Bill could be 'meaningful positive' for solar stocks, says Roth Capital » 16:0902/0802/08/21
ENPH, SEDG, GNRC, NOVA, RUN, SPWR, FSLR, ARRY, JKS, CSIQ, DQ, MAXN, HASI, TPIC, AMSC
A bill was introduced to…
A bill was introduced to the House Ways and Means Committee on Friday that could extend the investment tax credit for five years at 30% and include storage, provide an 85% direct pay option, and create an additional 10% tax credit for construction jobs meeting certain labor requirements, Roth Capital analyst Philip Shen tells investors in a research note. The analyst's channel checks suggest the bill currently does not have any Republican support. This could be part of a larger infrastructure bill or perhaps a slimmed down Green Act, with checks suggesting the timing of passage could be late spring or early summer depending the vehicle it is attached to, says Shen. The analyst believes the passage of the bill could be a "meaningful positive" for nearly every company in his coverage universe including, Enphase Energy (ENPH), SolarEdge (SEDG), Generac (GNRC), Sunnova Energy (NOVA), Sunrun (RUN), SunPower (SPWR), First Solar (FSLR), Array Technologies (ARRY), JinkoSolar (JKS), Canadian Solar (CSIQ), Daqo New Energy (DQ), Maxeon Solar (MAXN), Hannon Armstrong (HASI), TPI Composites (TPIC) and AMSC (AMSC).