Nextracker price target raised to $53 from $46 at BofA

BofA raised the firm’s price target on Nextracker to $53 from $46 and keeps a Buy rating on the shares. Nextracker has outperformed the broader clean tech space by a wide margin in its first few quarters as a public company, and two consecutive quarters of guidance raises is a positive indication of revenue visibility, the analyst tells investors in a research note.