Nextracker initiated with an Outperform at Credit Suisse

Credit Suisse initiated coverage of Nextracker with an Outperform rating and $36 price target. Nextracker is the market leader in solar trackers, says the analyst, who likes the company’s secular solar demand growth potential and the need for trackers. Nextracker has proven the ability to maintain market share despite competition from new entrants, contends the firm.