UBS Turns Bearish On TPI Composites, Cuts Price Target By Half

UBS analyst Jon Windham downgraded TPI Composites Inc TPIC to Sell from Neutral and lowered the price target to $20 (a downside of 34%), from $44.
Windham sees increasing risk to the second half of 2021 and 2022 earnings expectations.
The analyst mentions continued challenging supply chain and logistics environment, coupled with increasing potential for a renewable electricity production tax credit extension, are likely to drive decreased near-term orders for wind blades.
The analyst expects "escalating margin pressures" for TPI's key customers to have "knock-on impacts" for the company.
Price Action: TPIC shares are trading lower by 7.23% at $30.4 on the last check Friday.

Momentum3.39

Growth17.90

Quality-

Value36.13

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Medium

Long

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