Northland analyst Donovan Schafer initiated coverage of Nextracker with a Market Perform rating and $32 price target. Nextracker was a pioneer in independent-row trackers, software optimization, and constructability from 2014-2018, but its "technological advantages are a bit exaggerated" and it "no longer stands out as much" versus competitors, the analyst contends. However, the firm adds that the company’s ability to execute, win business, and keep customers happy and coming back is "top-notch," noting it will likely revise upward or downward its rating "if we feel the market has focused too much on one aspect at the expense of the other."
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Published first on TheFly
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