Barclays analyst Christine Cho downgraded Array Technologies to Equal Weight from Overweight with a price target of $15, down from $22. Given weak bookings year-to-date and an expectation for a soft bookings again in Q4, the analyst lowered Array’s fiscal 2024 revenue estimate to $1.59B, reflecting 4% year-over-year growth and more than 15% below consensus.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ARRY:
- Roth MKM energy analysts holds an analyst/industry conference call
- What You Missed This Week in EVs and Clean Energy
- Array Technologies downgraded to Equal Weight from Overweight at Wells Fargo
- Array Technologies named a ‘2024 Top Pick’ at Northland
- Array Technologies price target raised to $20 from $19 at Mizuho