AMSC downgraded to Hold from Buy at Clear Street

Clear Street downgraded AMSC (AMSC) to Hold from Buy with a price target of $52, up from $44. While the firm says it appreciates AMSC’s operating leverage and step-up in its incremental profit margin as well as its 20% organic sales growth profile this year and backlog, the firm moves to a Hold due to the stock’s recent strong relative outperformance and valuation.