Shoals Technologies price target lowered to $26 from $32 at JPMorgan

JPMorgan analyst Mark Strouse lowered the firm’s price target on Shoals Technologies to $26 from $32 and keeps an Overweight rating on the shares. The company reported Q4 results approximately aligned with expectations but utility-scale project delays are weighing on industry visibility near term, the analyst tells investors in a research note. However, the firm continues to view utility-scale solar as the preferred exposure within its coverage owing to relatively stronger demand, as evidenced by continued strong order activity and pipelines.