Tecnoglass price target raised to $90 from $65 at DA Davidson

DA Davidson raised the firm’s price target on Tecnoglass (TGLS) to $90 from $65 and keeps a Buy rating on the shares. The company’s bottom-line was better on stronger margin and its backlog was up again sequentially, lending visibility into 2025, the analyst tells investors in a research note. A successful U.S. penetration by Tecnoglass, coupled with stable and improving market fundamentals, remains supportive of the stock, the firm added.