TPI Composites: Stifel initiates coverage with 'buy' on growth prospects

TPI Composites

08/04/2021 13:23

** Stifel initiates coverage of composite wind blades maker
 TPIC.O  with "buy" rating and PT pf $70
    ** Believes being uniquely positioned as the only
independent global manufacturer of composite wind blades, co is 
poised to capitalize on the rise in wind power installations
over the next 5-10 years
    ** Adds that co's position is further supported by a tight,
collaborative relationship with major turbine manufacturers 
    ** Says as a percentage of overall power generation, wind is
expected to grow 15-20% by 2030 and possibly close to 30% by
2040, further strengthening co's growth prospects
    ** Eight of 12 brokerages rate the stock "buy" or higher,
and 4 "hold"; median PT is $65- Refinitiv Data
    ** Up to Wednesday's close, stock had risen ~3.2% YTD;
Shares up 0.99% at $55 in premarket trading

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))