Array Technologies price target raised to $22 from $17 at Truist

Truist analyst Jordan Levy raised the firm’s price target on Array Technologies to $22 from $17 and keeps a Hold rating on the shares. The company has made "notable progress" in 2022 on driving cost efficiencies in acquired STI assets while enhancing and localizing its supplier base, though the rate of its margin improvement may decelerate or flatten as gross margins approach the management’s previously-discussed upper-teens targets, the analyst tells investors in a research note.