Citi lowered the firm’s price target on Shoals Technologies to $23 from $26 and keeps a Buy rating on the shares. The company modestly lowered revenue guidance while raising adjusted EBITDA and earnings outlook for fiscal 2023, the analyst tells investors in a research note. The firm says the shrink-back liability range of $57M-$185M was slightly higher than expected and indicates a lack of clarity on the portion of the affected harnesses Shoals must replace.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SHLS:
- Shoals Technologies narrows FY23 revenue view to $485M-$495M from $480M-$510M
- Shoals Technologies reports Q3 EPS 20c, consensus 15c
- Shoals Technologies Group options imply 10.3% move in share price post-earnings
- Shoals Technologies to Deploy Fuel by Shoals® eMobility Solution for Department of the Air Force
- Shoals Technologies to deploy Fuel by Shoals eMobility for Air Force