J.P. Morgan Reiterates Hold On Broadwind Energy (BWEN)

J.P. Morgan is out with its report on Broadwind Energy BWEN, maintaining its Hold rating.

"Yesterday, Broadwind announced it had sold its Badger Transport operation, as it was no longer considered a core business for the company," writes J.P. Morgan. "This sale removes a money losing business and incrementally helps the company's balance sheet. Overall, we think the transaction is positive for the company's longer term prospects."

Shares of BWEN closed Monday at $1.35.