BofA raised the firm’s price target on Nextracker to $66 from $64 and keeps a Buy rating on the shares. Nextracker previously reported a $4B record backlog with bookings of $1B-plus, reflective of strong underlying demand, notes the firm, which sees “more than a palatable entry point for an outsized, idiosyncratic and margin expansion story” going into the Q1 print from the solar tracking company.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NXT:
- Nextracker price target raised to $65 from $63 at JPMorgan
- Nextracker price target lowered to $61 from $63 at Barclays
- NEXTracker (NASDAQ:NXT): Unique, Surprisingly Cheap Solar Stock
- Nextracker initiated with a Positive at Susquehanna
- Nextracker Inc call volume above normal and directionally bullish