TPI Composites downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded TPI Composites (TPIC) to Neutral from Overweight without a price target Although JPMorgan continues to expect a “significant ramp” in TPI’s EBITDA during fiscal 2025 as factory utilization increases, uncertainty regarding U.S. onshore wind incentives, U.S. and Mexico tariff structures, and increasing competition in Europe from Chinese peers will likely keep the stock range-bound until visibility improves, the analyst tells investors in a research note.