Craig-Hallum lowered the firm’s price target on Broadwind to $6 from $9 and keeps a Buy rating on the shares. The firm notes Broadwind reported a solid EBITDA/EPS beat in Q3 and it reiterated its FY23 revenue and EBITDA guidance with backlog down quarter-over-quarter. While thinking that Broadwind’s 2023 EBITDA guide most likely proves conservative, this is secondary to Broadwind and its large Tower customer jointly agreeing to shift about 50% of its planned 2024 production to 2025.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BWEN: