Tecnoglass price target lowered to $60 from $64 at Baird

Baird lowered the firm’s price target on Tecnoglass to $60 from $64 and keeps an Outperform rating on the shares. The firm noted fairly bullish management tone around demand, with the company indicating continued strong front-end commercial activity and a meaningful improvement in residential order activity. Execution against embedded revenue/margin ramp will be critical.