Analyst Jeff Osborne from TD Cowen maintained a Hold rating on NEXTracker, Inc. Class A and increased the price target to $88.00 from $65.00.
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Jeff Osborne has given his Hold rating due to a combination of factors that reflect both positive and cautious elements in NEXTracker’s current performance and future outlook. On the positive side, the company has demonstrated strong revenue growth, driven by robust demand in the US and expanding markets in Europe. Additionally, NEXTracker has maintained solid gross margins despite facing tariff impacts, and its backlog has grown to over $5 billion, indicating sustained demand.
However, Osborne also notes some concerns that justify a Hold rating. The company is experiencing continued tariff pressures that could impact margins, and an increased international mix might weigh further on profitability. While NEXTracker has raised its FY26 guidance and posted strong financial results, including a significant cash position and no debt, the expected margin pressure in the second half of FY26 and the evolving business mix present uncertainties. These factors contribute to a cautious outlook, leading to the Hold recommendation.
According to TipRanks, Osborne is a 4-star analyst with an average return of 5.4% and a 46.76% success rate. Osborne covers the Technology sector, focusing on stocks such as SolarEdge Technologies, First Solar, and Sunrun.