Singular Research Reiterates TechPrecision Buy Rating, Unchanged $4 PT

Singular Research reiterated its TechPrecision TPCS Buy rating and left its TechPrecision $4 price target unchanged in a research report published today. In the report, Singular Research states "Revenues above expectations but expenses related to qualifying new Chinese facility drove the lower than expected EPS. New solar and LED customers to ramp in FY:12. New medical and commercial products remain on target." Shares of TechPrecision were trading at $1.71 at the time of posting, down 5% from Wednesday's market close.