Broadwind price target lowered to $3.50 from $4 at Roth MKM

Roth MKM lowered the firm’s price target on Broadwind to $3.50 from $4 and keeps a Buy rating on the shares. The company delivered a Q2 beat but lower-than-expected Q3 guidance, with the management expecting near-term wind demand to remain muted, the analyst tells investors in a research note. The firm adds however that there appears to be potential for stronger order flow toward the end of 2024 and into Q1 of 2025 to secure capacity toward the end of 2025.