Analyst Dimple Gosai from Bank of America Securities maintained a Buy rating on NEXTracker, Inc. Class A and keeping the price target at $94.00.
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Dimple Gosai has given his Buy rating due to a combination of factors that highlight NEXTracker’s strong market position and growth potential. The company has demonstrated exceptional execution capabilities, efficiently converting its backlog of over $5 billion and delivering projects that exceed expectations. Additionally, NEXTracker is expanding its global presence and increasing its exposure to premium domestic-content demand, which positions it well for future growth.
Furthermore, NEXTracker’s strategic initiatives in product diversification and regional growth are expected to drive long-term success. The company’s focus on new products, such as advanced steel frames and software solutions, along with its expansion into regions like Saudi Arabia and the European Union, are key growth drivers. With a robust liquidity position of $1.8 billion and leadership in the tracker market, NEXTracker is poised to enhance its earnings and cash flow as it navigates the evolving solar-infrastructure landscape.
Gosai covers the Technology sector, focusing on stocks such as NEXTracker, Inc. Class A, First Solar, and Array Technologies. According to TipRanks, Gosai has an average return of -36.5% and a 53.19% success rate on recommended stocks.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $102.00 price target.