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American Superconductor Shares Initiated At Outperform By Oppenheimer

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Oppenheimer's Colin Rusch initiated coverage on shares of American Superconductor Corporation (NASDAQ: AMSC) with an Outperform rating and $12 price target on 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 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;
  • Taking advantage of the near-term core product opportunities."

American Superconductor shares closed Tuesday's session up around 6 percent at $8.90, Rusch's new price target implied potential upside of about 35 percent.

Latest Ratings for AMSC

DateFirmActionFromTo
Jan 2020Canaccord GenuityInitiates Coverage OnBuy
Jun 2018B. Riley FBRMaintainsNeutralNeutral
Jul 2017FBR CapitalDowngradesOutperformMarket Perform

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Posted-In: Colin Rusch OppenheimerAnalyst Color Price Target Initiation Analyst Ratings

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