Oppenheimer's Colin Rusch initiated coverage on shares of American Superconductor Corporation AMSC with an Outperform rating and $12 price target Monday.
"We believe AMSC has built a portfolio of value-added IP and is positioned to benefit in both its Windtec and Gridtec
businesses from long-term secular trends including aging utility infrastructure and the proliferation of intermittent renewable energy generation," Rusch wrote in a research note.
The Oppenheimer analyst suggested American Superconductor will need to focus on three areas to achieve profitability:
- "...diversifying its revenue stream;
- leveraging its existing customer base; and,
- taking advantage of the near-term core product opportunities."
As American Superconductor shares closed Monday's session up around 6 percent at $8.90, Rusch's new price target implied potential upside of about 35 percent.
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