Nextracker initiated with an Outperform, $38 price target at Scotiabank

As previously reported, Scotiabank analyst Tristan Richardson initiated coverage of Nextracker with an Outperform rating and $38 price target. Nextracker, which provides solar tracking products used in utility-scale solar projects in the U.S. and globally, currently boasts a market share of about 40% of the tracker industry in the U.S., the firm noted.