Oppenheimer Remains a Buy on Amer Superconductor (AMSC)


Oppenheimer analyst Colin Rusch maintained a Buy rating on Amer Superconductor (AMSC) today and set a price target of $10. The company’s shares opened today at $7.65.

Rusch commented:

“AMSC continues to make material progress on transforming its business. Notably, the company has grown Grid revenue 36% YTD in FY18 as Wind revenue recovers at a modest rate. We are encouraged to see AMSC reach a critical proof point on its REG product with the contract signed with Illinois-based utility ComEd. We believe this project sets an important precedent for the technology which other utilities can follow as they work to rate-base the technology. Last, AMSC has put itself in a strong cash position to support growth with its Devens, MA facility sale and the Sinovel settlement. We maintain our Outperform rating and increase our PT to $10 (from $7.50) as we introduce FY20 estimates which include ASMC reaching full-year EBITDA break- even.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 9.1% and a 48.9% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Canadian Solar Inc, and Fuelcell Energy.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Amer Superconductor with a $10.50 average price target.

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Based on Amer Superconductor’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.74 million. In comparison, last year the company had a GAAP net loss of $7.28 million.

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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.

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