TD Cowen downgraded TPI Composites (TPIC) to Hold from Buy with a price target of $1, down from $2. The firm cites peer group compression, increasing policy risk, and capital structure concerns for the downgrade. The One Big Beautiful Bill sunsets renewable energy system tax credits after 2027, “creating a demand cliff,” the analyst tells investors in a research note. TD believes TPI’s “heavy” debt load and lack of a clear deleveraging plan limit share upside.
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