Tecnoglass Stock (TGLS): $34 Price Target From Sidoti

By Amit Chowdhry ● Dec 12, 2021
  • The shares of Tecnoglass Inc (NASDAQ: TGLS) have received a price target of $34 from Sidoti. These are the details.

The shares of Tecnoglass Inc (NASDAQ: TGLS) have received a price target of $34 from Sidoti. And Sidoti analyst Julio Romero upgraded Tecnoglass to a “Buy” rating from a “Neutral” rating.

Romero views the recent pullback on the shares following the release of a short report by Hindenburg Research as having created a compelling entry point. The company management believes the short-seller report – which alleges historical ties to a Colombian drug cartel, undisclosed related party transactions, and faked revenue contains inaccurate and groundless statements. 

Romero also pointed out that the company raised its 2021 full-year guidance.

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