Nextracker price target lowered to $65 from $70 at Truist

Truist analyst Jordan Levy lowered the firm’s price target on Nextracker to $65 from $70 and keeps a Buy rating on the shares ahead of its Q1 results this Thursday. The company has demonstrated the strengths of its broad customer portfolio and economies of scale driving above peer average growth and notable profitability tailwinds, the analyst tells investors in a research note. Truist expects to see the “same impressive execution” with the Q1 print, albeit with closer attention being paid to any commentary on election/interconnection/other-related project pushouts, the firm added.