BofA analyst Julien Dumoulin-Smith double upgraded TPI Composites to Buy from Underperform with a price target of $14, up from $9. The wind business, which is "highly cyclical," has seen a meaningful slump in recent years as solar has "displaced" wind despite robust new subsidies for both. With shares "only modestly" off all-time lows, the firm sees an "opportunistic moment to get more constructive," but adds that it recognizes "we could be early in making this move."
Published first on TheFly
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