Barclays analyst Christine Cho lowered the firm’s price target on Shoals Technologies (SHLS) to $5 from $7 and keeps an Equal Weight rating on the shares. The company is tracking towards the upper end of the revenue range for 2024 and there are some encouraging qualitative data points with the earnings print, but soft bookings and the update on backlog cast a shadow in the near term for fiscal 2025, the analyst tells investors in a research note.
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