Truist raised the firm’s price target on Array Technologies to $32 from $28 and keeps a Buy rating on the shares as part of a broader research note on utility-scale Solar names. The firm sees continued strong tailwinds from both policy and overall power needs, along with declining component and O&M prices, driving a favorable growth environment both in the near-term and coming years. The analyst adds that utility-scale names should garner meaningful outperformance vs. residential Solar peers in the coming earnings cycle.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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 the top stocks recommended by analysts >>
Read More on ARRY:
- Array Technologies, Lock Joint Tube collaborate on new steel tube mill in Texas
- Array Technologies and Lock Joint Tube Collaborate on New Steel Tube Mill in Texas
- Roth MKM sustainability analyst to hold an analyst/industry conference call
- Array Technologies price target raised to $33 from $31 at JPMorgan
- Array Technologies, Inc. Announces Second Quarter 2023 Earnings Release Date and Conference Call