2023-06-15 11:32:19 ET
Tecnoglass ( NYSE: TGLS ) on Thursday was rated Buy in new research coverage by analysts at financial-services firm Stifel.
They said the Colombian maker of architectural glass and windows has lower operating costs and higher profit margins than U.S. rivals.
“Tecnoglass ( TGLS ) has experienced robust growth driven by market share gains, new product line expansions (entered residential in 2017) and geographic expansion, all trends we expect will continue into the foreseeable future,” Stanley Elliott, analyst at Stifel, said in a June 15 report. “Further, Tecnoglass ( TGLS ) has exposure to relatively attractive portions of the end market, with nearly 90% of sales in Florida and nearly 30% from remove and replace.”
Stifel set a price target of $60 a share on Tecnoglass ( TGLS ), based on a multiple of 7 times estimated EBITDA for 2024.
Seeking Alpha columnist Friso Alenus has a Strong Buy rating on Tecnoglass ( TGLS ) because of its growing backlog . Contributor Growth Arcane also rates Tecnoglass ( TGLS ) as a Strong Buy based on its performance history and outlook .
More about Tecnoglass
- Tecnoglass down 7%, prices secondary offering of 2M shares
- Tecnoglass and Wells Fargo collaborate for financing solutions and incremental sales
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Tecnoglass jumps with Buy rating in new coverage at Stifel