Nextracker price target lowered to $50 from $65 at Truist

Truist lowered the firm’s price target on Nextracker to $50 from $65 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results among Alternative Energy / Mobility names. The firm is generally cautious on bookings levels for the entirety of the utility-scale solar group given the upcoming election/pending AD/CVD investigation, but it doesn’t expect a lower bookings print to come as much of a surprise to investors, the analyst tells investors in a research note, adding that Truist continues to favor the company’s solid long-term set up with scale, market positioning, and customer profile.