As previously reported, Guggenheim downgraded Nextracker (NXT) to Neutral from Buy and removed the firm’s prior $62 price target arguing that it is unlikely for the company to show any potential upside relative to Bloomberg consensus when Nextracker provides its outlook for the upcoming fiscal year. The firm, which adds that its work points to some potential for slight downside relative to the Street in the outlook, lowered its FY26 estimates ahead of the company’s earnings report. While the firm sees no market share loss for Nextracker, it believes the “easy gains may be over with,” the analyst added.
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