TPI Composites $TPIC stock confirmed a Symmetrical TriangleThe symmetrical triangle pattern is one of the most popular chart patterns in the world of technical analysis. This pattern is a result of the convergence of two lines that form a ... Breakout bottom, marking the stock as a potential turnaround candidate.
TPI Composites Upgraded at BofA
TPI Composites received a double upgrade from BofA analyst Julien Dumoulin-Smith on February 23, 2023, from Underperform to Buy with a $14 price target, up from $9. Because solar has replaced wind in recent years despite significant new subsidies for both, the highly cyclical wind industry has experienced a significant decline. The company notes that it may be too soon to turn more constructive given that shares are only slightly above their all-time lows. Nevertheless, it sees this as an opportunity to do so. “With impressive operating leverage – we view their low single-digit EBITDA margin as perhaps higher, and most critically the ‘recovery’ EBITDA margin of high single digits as being effectively a ’25+ target,” he said.
