American Superconductor Shares Initiated At Outperform By Oppenheimer

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.