Array Technologies price target lowered to $22 from $24 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Array Technologies to $22 from $24 and keeps an Overweight rating on the shares. Array is experiencing further project push outs that led to a guide-down of FY23 revenue of $135M, and multiple macro headwinds continue, with an incrementally worse interest rate environment that led to four project delays, the analyst tells investors in a research note.