Tecnoglass price target lowered to $60 from $65 at B. Riley

B. Riley lowered the firm’s price target on Tecnoglass to $60 from $65 and keeps a Buy rating on the shares. The company reported Q1 results below estimates with lower operating leverage as it faced weaker sales activity within the single-family residential market, and negative forex impact, the analyst tells investors in a research note. However, the firm believes growth opportunities remain solid for Tecnoglass as the new vinyl window line becomes fully available.