JP Morgan Maintains TPI Composites (TPIC) Overweight Recommendation
Fintel reports that on July 27, 2023, JP Morgan maintained coverage of TPI Composites (NASDAQ:TPIC) with a Overweight recommendation.
Analyst Price Forecast Suggests 148.38% Upside
As of July 6, 2023, the average one-year price target for TPI Composites is 16.39. The forecasts range from a low of 9.09 to a high of $23.10. The average price target represents an increase of 148.38% from its latest reported closing price of 6.60.
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The projected annual revenue for TPI Composites is 1,741MM, an increase of 9.96%. The projected annual non-GAAP EPS is -1.41.
What is the Fund Sentiment?
There are 375 funds or institutions reporting positions in TPI Composites. This is an increase of 2 owner(s) or 0.54% in the last quarter. Average portfolio weight of all funds dedicated to TPIC is 0.14%, an increase of 43.10%. Total shares owned by institutions increased in the last three months by 11.25% to 39,132K shares. 
The put/call ratio of TPIC is 0.49, indicating a bullish outlook.
What are Other Shareholders Doing?
Credit Suisse holds 1,725K shares representing 4.06% ownership of the company. In it's prior filing, the firm reported owning 1,459K shares, representing an increase of 15.41%. The firm increased its portfolio allocation in TPIC by 44.42% over the last quarter.
Invesco holds 1,267K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 1,567K shares, representing a decrease of 23.64%. The firm decreased its portfolio allocation in TPIC by 0.86% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,240K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 1,071K shares, representing an increase of 13.57%. The firm increased its portfolio allocation in TPIC by 37.50% over the last quarter.
Point72 Asset Management holds 1,016K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 562K shares, representing an increase of 44.72%. The firm increased its portfolio allocation in TPIC by 112.13% over the last quarter.
Millennium Management holds 1,000K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 889K shares, representing an increase of 11.01%. The firm increased its portfolio allocation in TPIC by 49.90% over the last quarter.
TPI Composites Background Information
(This description is provided by the company.)
TPI Composites, Inc. is the only independent manufacturer of composite wind blades for the wind energy market with a global manufacturing footprint. TPI delivers high-quality, cost-effective composite solutions through long-term relationships with leading OEMs in the wind and transportation markets. TPI is headquartered in Scottsdale, Arizona and operates factories in the U.S., China, Mexico, Turkey and India. TPI operates additional engineering development centers in Denmark and Germany.
Additional reading:
- TPI Composites, Inc. Reports Preliminary Estimated Second Quarter 2023 Earnings Results and Provides Updated Guidance for 2023
- TPI Composites, Inc. Announces First Quarter 2023 Earnings Results – Delivered Strong Top Line Growth, Met Earnings Plan and Strengthened Balance Sheet for Future Growth
- Q1 2023 Earnings Call May 3, 2023 Q1 2023 Earnings Call May 3, 2023 Legal Disclaimer This presentation contains forward - looking statements within the meaning of Section 27A of the Securities Act of 1933, as amende d, and Section 21E of the Securiti
- Form of Capped Call Transaction Confirmation.
- Association, as trustee (incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on Form
This story originally appeared on Fintel.