BMO Capital raised the firm’s price target on Nextracker (NXT) to $93 from $89 and keeps a Market Perform rating on the shares after its Q2 earnings beat. The company saw plenty of positives in its latest earnings update, with bookings seen as robust at about $1.2B, bringing the total backlog to over $5B, the analyst tells investors in a research note. The upcoming capital markets day will help in quantifying the non-tracker business acquisition, but the management comments suggest that EBOS and foundation products are scaling up well, the firm added.
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