EF Hutton analyst Tim Moore initiated coverage of Sunworks with a Buy rating and $5 price target. Sunworks provides solar power and battery-based power storage systems to the diversified end markets of residential, commercial, industrial and public works, Moore tells investors in a research note. The analyst says the company’s "transformational" acquisition of Solcius in April 2021 lessened its reliance on agriculture end markets and "vastly increased" its sales to more profitable residential customers.
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