Wells Fargo analyst Praneeth Satish initiated coverage of Shoals Technologies with an Equal Weight rating and $46 price target The company is entering new markets, which could accelerate growth over the long term, but the near term, there is risk to 2025 consensus estimates, the analyst tells investors in a research note. The firm says investors are likely waiting for clear signs of traction in Shoals’ new business segments, such as increased bookings, before ascribing significant growth to the stock.
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