Roth MKM starts ‘best-in-class’ Nextracker with Buy, $45 target

Roth MKM initiated coverage of Nextracker with a Buy rating and $45 price target. Nextracker is the global leader of solar tracking technology that serves the utility scale solar segment, the analyst tells investors in a research note. The company has leading market share in the U.S. and internationally and is considered "best-in-class," says the analyst. Following the passage of the Inflation Reduction Act, the firm sees a "wall of demand" in the U.S. and expects Nextracker to be a key beneficiary. It looks for strong bookings ahead as a key upside catalyst for the stock.