Nextracker initiated with a Buy at Mizuho

Mizuho analyst Anthony Crowdell initiated coverage of Nextracker with a Buy rating and $40 price target. The company is positioned to benefit from the global transition to renewable energy, the analyst tells investors in a research note. Global clean energy policies should accelerate the transition to zero-emission generation and utility-scale solar will likely play a larger role after years of falling costs, the firm contends. It believes Nextracker’s proprietary technology has a proven track record of improving the economics of utility-scale solar projects.