In a report released yesterday, Colin Rusch from Oppenheimer maintained a Buy rating on Amer Superconductor (AMSC), with a price target of $16. The company’s shares closed yesterday at $13.88, close to its 52-week high of $14.43.
Rusch said:
“AMSC continued its impressive turnaround in DecQ18 as it generated positive operating cash during the quarter, validated growth potential in its SPS business, and successfully received the final payment from Sinovel. With management guiding to net cash of ~$70M exiting MarQ19 after legal fees, taxes, and capex for the SPS business, we see the company aligned for sustainable revenue growth and operating leverage. We are integrating incremental Navy revenue into our model we are encouraged about AMSC’s prospects. We believe the company is making incremental process in improving visibility to its wind business and has the potential see positive catalysts with its REG business NT. We raise our PT to $16 (from $10) to reflect FY21 estimates and potential earnings leverage in the model.”
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 9.3% and a 49.4% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Canadian Solar Inc, Fuelcell Energy, and Ideal Power.
Amer Superconductor has an analyst consensus of Moderate Buy, with a price target consensus of $14.
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The company has a one-year high of $14.43 and a one-year low of $4.39. Currently, Amer Superconductor has an average volume of 298.1K.
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American Superconductor Corp. is a provider of megawatt-scale solutions. It engages in generating the ideas, technologies and solutions that meet the demand for smarter, cleaner better energy. The firm operates through two segments: Wind and Grid.
