Morgan Stanley upgraded Array Technologies to Equal Weight from Underweight with a price target of $23, up from $18. The substantial sell-off in clean energy looks overdone, the analyst tells investors in a research note. The firm says Array offers demand resiliency and a balanced risk/reward skew at current share levels. The firm expects the company to benefit from strong growth in the utility-scale solar market, “which so far, is proving to be a more resilient sub-sector of clean tech.”
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