UPDATE: Ascendiant Capital Initiates American Superconductor at Buy on Expected Unit Volume Growth
In a report published Friday, Ascendiant Capital analyst Carter W. Driscoll initiated coverage on American Superconductor (NASDAQ: AMSC) with a Buy rating and $3.25 price target.
In the report, Ascendiant Capital noted, “We are initiating coverage with a BUY and $3.25 target. AMSC is a leading provider of proprietary wind turbine design technology, power electronics and smart grid infrastructure solutions. AMSC does not build wind turbines; it designs them. Its Windtec subsidiary boasts a complete turnkey wind solution that others find difficult to match. Customer agreements lead to captive sales of proprietary electronic control systems, for which we expect lumpy but increasing unit volume growth over the next several years.”
American Superconductor closed on Thursday at $2.28.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.