UBS analyst Jon Windham has maintained their bullish stance on SHLS stock, giving a Buy rating today.
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Jon Windham has given his Buy rating due to a combination of factors including Shoals Technologies Group’s robust backlog and strategic positioning in high-growth markets. The company reported a record backlog of $721 million, which highlights strong demand for their clean energy solutions, particularly from data centers and large technology firms. This demand is further supported by the company’s increasing exposure to the battery storage and data center markets, which are expected to drive future growth.
Additionally, Shoals Technologies Group is making strategic operational improvements, such as consolidating its manufacturing facilities in Tennessee, which could enhance efficiency. The company’s guidance for 2025 has been revised upwards, reflecting confidence in its revenue potential. Windham’s decision to raise the price target to $12 from $9 is based on a higher valuation multiple, aligning with the company’s growth prospects in the utility-scale solar and battery storage sectors.
According to TipRanks, Windham is a 5-star analyst with an average return of 12.8% and a 54.69% success rate. Windham covers the Industrials sector, focusing on stocks such as Casella Waste, Clean Harbors, and Generac Holdings.
In another report released today, Barclays also maintained a Buy rating on the stock with a $10.00 price target.