In a report released today, Jon Windham from UBS maintained a Buy rating on NEXTracker, Inc. Class A, with a price target of $125.00.
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Jon Windham has given his Buy rating due to a combination of factors that highlight NEXTracker, Inc.’s strategic positioning and growth potential. The company has demonstrated its ability to leverage its leadership in the solar tracker market, which is supported by favorable tax earnings, to expand into a more diversified platform. This expansion increases its total addressable market, indicating strong future growth prospects.
Additionally, NEXTracker’s recent results show its capability to quickly scale newly acquired businesses, enhancing its share in solar project investments. The upcoming Capital Markets Day is expected to provide further insights into the company’s evolving product strategies, reinforcing confidence in its growth trajectory. The price target has been raised to $125, reflecting these positive developments and the application of a consistent valuation multiple.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $109.00 price target.
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NXT in relation to earlier this year.