- Bank of America analyst Adhok Bellurkar initiated TPI Composites Inc (NASDAQ:TPIC) with an Underperform rating and a price target of $22 (implying a downside of 44.4%).
- Bellurkar mentions risk to profitability from raw material increases and contends that the consensus 8% revenue compound annual growth rate forecast is overestimating the company’s growth given his views on increasing competition, contract expirations, and a slowing industry.
- Recently, the company reported Q2 results and guided FY21 net sales of $1.75 billion – $1.80 billion versus the consensus of $1.80 billion.
- Price Action: TPIC shares are trading lower by 7.37% at $39.46 on the last check Monday.
Why Sonnet BioTherapeutics Shares Surged Over 66%; Here Are 63 Biggest Movers From Yesterday
Gainers
Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN) climbed 66.4% to close at $1.93 on Monday after the company announced an agreement with Janssen for the evaluation of three Sonnet product candidates.
