TPI Composites initiated with a Hold at Jefferies

Jefferies initiated coverage of TPI Composites with a Hold rating and $5 price target An improving U.S. backdrop is offset by risks to TPI’s position in Turkey with Nordex contract rolloff a key risk, the analyst tells investors. The firm sees “a less linear path” to consistent free cash flow and waits for clarity on sustained, meaningful further adds to lines prior to getting more constructive, the analyst added.