Piper Sandler lowered the firm’s price target on FTC Solar to 60c from $1.50 and keeps a Neutral rating on the shares. The Fed pivot represents a major macro theme for renewables in 2024 and is an improvement for the firm’s coverage. Piper sees the benefits accruing to the installers initially and inverters eventually with the rest of its space benefiting long-term. The other major macro theme for renewables surrounds the election, which possesses a negative risk/reward skew.
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 FTCI:
- FTC Solar price target raised by 35c at Northland, here’s why
- FTC Solar price target raised to $1 from 65c at Northland
- FTC Solar appoints Anthony Carroll as chairman of Customer Advisory Board
- FTC Solar downgraded to Underperform from Buy at BofA
- FTC Solar downgraded to Market Perform from Outperform at Northland