Citi Maintains Hold on American Superconductor

Citi is out with its report today on American Superconductor AMSC, maintaining Hold. In a note to clients, Citi writes, "We rate AMSC Hold/ Speculative (2S) with a $14 target. Because AMSC has two distinct businesses at very different phases of maturity, we have chosen a sum-of-parts valuation that values the Superconductor business at around $6 per share and the Power Systems (wind) business at around $8 per share." At the time of posting, shares of AMSC were trading pre-market at $7.90, down 7.39% from Monday's close.