RBC Capital lowered the firm’s price target on Shoals Technologies to $13 from $15 but keeps an Outperform rating on the shares as part of a broader research note previewing Q2 results in Clean Energy. The firm is citing near term risk with the outcome of the patent litigation ahead of earnings for the company, but more broadly, a full repeal of the Inflation Reduction Act is unlikely and does not have full Republican support because many of the job-creating IRA benefits are being located in non-Democratic districts, the analyst tells investors in a research note.
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