Cantor Fitzgerald analyst Derek Soderberg initiated coverage of Shoals Technologies with a Neutral rating and $30 price target. Shoals offers compelling, low-cost EBOS solutions, positioning them to benefit from secular tailwinds in the utility-scale solar market, and has new, incremental opportunities to sell into battery storage applications, which management feels can expand Shoals’ wallet share by over 50% on solar and storage projects, the analyst tells investors in a research note. In addition, Cantor Fitzgerald notes that Shoals is in the early days of selling its EBOS solutions into the EV charging market, which was recently granted $7.5B through the infrastructure Investment and Jobs Act.
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 the top stocks recommended by analysts >>
Read More on SHLS:
- Shoals Technologies initiated with a Neutral at Cantor Fitzgerald
- Shoals Technologies price target lowered to $35 from $37.50 at Cowen
- Shoals Technologies releases ESG report
- Shoals Technologies Group, Inc. Releases Inaugural Environmental, Social and Governance (ESG) Report
- JPMorgan shuffles Focus List, names top 2023 alternative energy picks