Roth MKM raised the firm’s price target on AMSC to $15 from $10 and keeps a Buy rating on the shares. The company’s Q3 results were a beat across the board, with the customers demanding product sooner, while lead times are trending lower, enabling faster backlog conversion, the analyst tells investors in a research note. AMSC’s 12-month backlog was up 25% YoY, and wind demand appears to be picking up with the second 3MW order secured, the firm added.
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