Nextracker price target raised to $55 from $50 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Nextracker to $55 from $50 and keeps a Buy rating on the shares. The firm notes Nextracker reported another strong quarter ahead of expectations. With record revenue, profitability, and a further expanding record backlog to significantly over $3B exiting the quarter, management underpinned expectations for continued strong momentum, Craig-Hallum adds.