Citi analyst Vikram Bagri initiated coverage of Shoals Technologies with a Buy rating and $34 price target. The analyst expects the solar sector to see "continued unprecedented growth" but sees near-term uncertainty for the U.S. residential solar sector. The firm prefers geographically diversified names with European exposure, as well as utility and commercial scale versus residential exposure. Its top picks are Enphase Energy (ENPH), Eneti (NETI), SolarEdge Technologies (SEDG) and Shoals Technologies (SHLS). Citi’s least preferred names are Generac (GNRC) and SunPower (SPWR).
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
See today’s best-performing stocks on TipRanks >>
Read More on SHLS:
- Shoals Technologies 24.5M share Spot Secondary priced at $24.70
- Shoals Technologies Group, Inc. Announces Pricing of Secondary Offering of 24,501,650 Shares of Class A Common Stock by Selling Stockholders
- Shoals Technologies files to sell 24.5M shares of Class A common for holders
- Shoals Technologies Group, Inc. Announces Launch of Secondary Offering of 24,501,650 Shares of Class A Common Stock by Selling Stockholders
- Shoals Technologies downgraded at Northland on likely growth challenges