FTC Solar price target lowered to 50c from $1 at Northland

Northland analyst Donovan Schafer lowered the firm’s price target on FTC Solar to 50c from $1 and keeps a Market Perform rating on the shares after the company delivered an inline Q4, but gave “weak” Q1 guidance and implied 2024 outlook. Though there was a lot of color on why FTC has disappointed and how this should be fixed going forward, the firm “can’t help but feel the need to see demonstrated success” before getting more constructive on the stock, the analyst tells investors.