Barclays lowered the firm’s price target on Array Technologies to $10 from $11 and keeps an Overweight rating on the shares. The analyst thinks delays and challenges will continue into next year, and the installation pace, which doesn’t necessarily reflect true underlying solar demand, will likely be flattish to mid single digits. Under a more subdued market outlook for 2025, the fight for market share will become fiercer, putting pressure on average selling prices and margins in the U.S. for the solar trackers, the analyst tells investors in a research note.
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