Tecnoglass price target raised to $85 from $76 at Baird

Baird raised the firm’s price target on Tecnoglass (TGLS) to $85 from $76 and keeps an Outperform rating on the shares as part of a Q3 earnings preview for the residential building products group. Channel checks remain mixed, with respondents indicating slightly worse trends, but year-over-year growth less bad across surveyed categories, the analyst tells investors in a research note. The firm says that while near-term trends remain mixed, it expects investors to look through Q3 results for the group, as focus turns toward a potential recovery beginning in 2025.