Broadwind price target lowered to $3.50 from $4 at Roth MKM

Roth MKM lowered the firm’s price target on Broadwind to $3.50 from $4 and keeps a Buy rating on the shares. The company delivered a Q4 beat but its Q1 guidance was “light” as the management indicated that wind demand could be pushing to the right due to the higher interest rate environment and raw material inflation, which is impacting project economics, the analyst tells investors in a research note. The firm is also reducing its expectations for wind tower volumes in 2024.