TPI Composites price target lowered to $4 from $13 at Stifel

Stifel lowered the firm’s price target on TPI Composites to $4 from $13 and keeps a Hold rating on the shares. Due to near-term uncertainty, the firm is reducing its adjusted EBITDA forecasts and lowering its price target, noting that line transitions are expected to drag on results in the first half of 2024 and that TPI Composites reported weaker-than-expected Q3 results in early November.