Piper On American Superconductor (AMSC): "Well Positioned In China"
Piper Jaffray is also initiating coverage on American Superconductor (AMSC) today which has looked very bullish in recent weeks but getting a bit extended. It’s up again today. Piper is out with a Neutral rating and price target of $22.
Analyst notes:
- company well positioned to benefit from govt mandates to grow wind energy in China
- customer concentration risk is significant with 67% of revenue from Sinovel in China
- China economic stimulus likely will favor wind
- state owned customers like Sinovel and CSR-Zelri more immune to economic downturn
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