Citi analyst Vikram Bagri raised the firm’s price target on Nextracker to $43 from $42 and keeps a Neutral rating on the shares. The company sharply beat margin estimates as Q1 gross margin of 23.7%, a record for the company, expanded by over six points quarter-over-quarter, the analyst tells investors in a research note. The firm says Nextracker is being disciplined on pricing, in what it believes is a highly competitive industry.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on NXT:
- Nextracker price target raised to $50 from $45 at Mizuho
- Nextracker sees FY24 adjusted EPS $1.45-$1.65, consensus $1.45
- Nextracker reports Q1 adjusted EPS 48c, consensus 29c
- Nextracker price target raised to $50 from $44 at Truist
- Roth MKM sustainability analyst to hold an analyst/industry conference call