Deutsche Bank analyst Corinne Blanchard initiated coverage of Nextracker (NXT) with a Buy rating and $88 price target which implies 20% upside. Nextracker has the leading market position in the solar tracker market globally, driven by a technology software technology business model, the analyst tells investors in a research note. The firm says the company also benefits from a solid balance sheet, which allows management to pursue acquisitions.
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Read More on NXT:
- Nextracker price target raised to $77 from $69 at JPMorgan
- Unusually active option classes on open September 16th
- Strategic Acquisitions and Policy Alignment Propel NEXTracker’s Market Leadership
- NEXTracker Enters New Credit Agreement with PNC Bank
- Nextracker acquires Origami Solar in roughly $53M all-cash transaction