Analyst Jeff Osborne of TD Cowen maintained a Hold rating on NEXTracker, Inc. Class A (NXT – Research Report), with a price target of $47.00.
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Jeff Osborne has given his Hold rating due to a combination of factors including the company’s current performance and future uncertainties. NEXTracker, Inc. is expected to meet its fiscal year 2025 revenue guidance, and its domestic supply chain strategy may mitigate some tariff impacts. However, the volatility of tariffs and uncertainties surrounding the Inflation Reduction Act (IRA) could affect future demand and project timelines.
While the company has shown strong execution with solid bookings and backlog, potential changes in the IRA and tariff policies might influence developer activities and project decisions. Additionally, the company’s margin profile is expected to decline due to the absence of previous one-time margin boosts and an increased international sales mix. These factors contribute to a cautious outlook, justifying the Hold rating.