BTIG downgraded TPI Composites to Neutral from Buy without a price target. The company preannounced Q2 results well below consensus and market challenges are expected to continue to be a headwind, the analyst tells investors in a research note. The firm says TPI’s near-term outlook remains challenging which could see its incremental manufacturing capacity growth “stall out” as the industry works through quality issues and cost inflation. It now views TPI as a “show-me story.”
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Read More on TPIC:
- TPI Composites (NASDAQ:TPIC) Tanks on Disappointing Q2 Prelim; Slashes Guidance
- TPI Composites cuts FY23 revenue view to $1.53B-$1.58B from $1.6B-$1.7B
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