JPMorgan lowered the firm’s price target on Array Technologies to $30 from $32 and keeps an Overweight rating on the shares. The company reported reported strong Q3 gross margin and EBITDA above expectations, the analyst tells investors in a research note. The firm says headline revenue missed expectations, though approximately aligned after adjusting for an international incentive reclassification. The company noted that its pipeline opportunities have doubled since Q2, it adds. JPMorgan would buy the stock on weakness post the report.
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