Roth MKM raised the firm’s price target on TPI Composites to $4 from $2 and keeps a Neutral rating on the shares. The company announced the close of an agreement with Oaktree Capital Management to refinance its Series A Preferred Stock, and the refinancing meaningfully improves its liquidity and provides much greater financial flexibility by extending the option to pay interest in kind and the maturity date, while also eliminating prepayment penalties, the analyst tells investors in a research note.
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