Array Technologies initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Derek Soderberg initiated coverage of Array Technologies with an Overweight rating and $26 price target. Array is a logical long-term partner for engineering, procurement, and construction firms and utility-scale solar operators given the company’s proven track record, robust supply chain and differentiated product offering, Soderberg tells investors in a research note. The analyst believes Array holds a number one or number two U.S. market share, which will position the company well to benefit from strengthening U.S.-specific tailwinds.