Needham initiated coverage of Shoals Technologies (SHLS) with a Buy rating and $12 price target The firm says Shoals is the category leader in U.S. utility-scale electrical balance of system with a “defendable” plug-and-play architecture that reduces labor, compresses schedules, and raises field quality. Needham cites strong domestic solar demand, record backlog and awarded orders, and potential near-term upside from data centers for its Buy rating.
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