TD Cowen analyst Jeff Osborne has maintained their bullish stance on TPIC stock, giving a Buy rating on January 28.
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Jeff Osborne has given his Buy rating due to a combination of factors influencing TPI Composites’ strategic positioning and operational advancements. The company is in the midst of a significant transition, exiting non-core markets and ramping up its operations in the U.S. This shift aligns with the increasing demand for energy generation, and the reopening of the Iowa plant with GE Vernova is expected to bolster their position, particularly by supporting projects eligible for IRA tax credits.
While TPI Composites faces competitive pressures in Europe, especially from low-cost Chinese manufacturers, and macroeconomic challenges, Osborne’s analysis highlights the company’s focus on optimizing production efficiency and enhancing its U.S. operations. Despite the potential impacts of tariffs and policy changes, TPI’s strategy to mitigate these risks, such as allowing customers to handle cross-border transport, and the ability to safe harbor projects, provides a foundation for long-term growth and stability, justifying the Buy recommendation.