Tecnoglass price target raised to $65 from $60 at DA Davidson

DA Davidson raised the firm’s price target on Tecnoglass to $65 from $60 and keeps a Buy rating on the shares after its Q2 earnings beat. The quarter’s sequential gross margin expansion was encouraging, and the single-family product order momentum should support stronger overall growth rates ahead, the analyst tells investors in a research note, adding that the firm will also continue to monitor developments around the company’s previously announced strategic review.