Piper Sandler lowered the firm’s price target on Shoals Technologies to $8 from $11 and keeps an Overweight rating on the shares. The firm notes expectations were low into earnings, but still Shoals provided a disappointing update as the usual suspects of project delays continued to elongate cycle times. The company also reduced revenue guidance by 17% with EBITDA down 26% given lack of cost absorption, Piper adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHLS:
- Shoals Technologies price target lowered to $10 from $12 at Barclays
- Shoals Technologies price target raised to $23 from $21 at JPMorgan
- Shoals Technologies Group, Inc. Announces Second Quarter 2024 Earnings Release Date and Conference Call
- Shoals Technologies price target lowered to $13 from $15 at RBC Capital
- Buy/Sell: Wall Street’s top 10 stock calls this week