American Semiconductor Stock Soared Today. When Will It Be a Buy?
Investors in American Superconductor (NASDAQ: AMSC) stock are having a pretty good week so far. On Tuesday, the provider of technology to electrical grid operators and wind turbine manufacturers announced an enlarged follow-on order from Inox Wind, a wind turbine manufacturer in India. That, in turn, elicited a price target boost and a renewed buy rating from analyst Eric Stine of investment bank Craig-Hallum on Wednesday morning.
Investors quickly responded to the price target hike, bidding up American Superconductor stock by 8.2% through 1:15 p.m. ET. Yet that still leaves room for the stock to rise as much as 33% more by the end of this year, based on Craig-Hallum's $14 target price (up from $12 previously).
And yet ... does American Superconductor stock actually deserve that buy rating?
Source Fool.com
