Nextracker price target raised to $45 from $40 at Mizuho

Mizuho analyst Anthony Crowdell raised the firm’s price target on Nextracker to $45 from $40 and keeps a Buy rating on the shares. The analyst continues to believe Nextracker stands to benefit from the global transition to renewable energy. Global clean energy policies should accelerate the transition to zero-emission generation, and utility-scale solar will likely play a larger role after years of falling costs, the analyst tell s investors in a research note. In the near-term, the firm expects the easing of solar panel availability to accelerate growth for Nextracker in the second half of fiscal 2024.