Tecnoglass downgraded to Neutral from Buy at B. Riley

B. Riley downgraded Tecnoglass to Neutral from Buy with a price target of $69, up from $60. The firm cites valuation for the downgrade with the shares are up more than 50% year-to-date. The analyst increased estimates based on lower interest rates, but believes the current share price fairly reflects the potential outcomes of Tecnoglass’ ongoing strategic review that should be completed by year-end.