Mizuho analyst Maheep Mandloi notes that the Department of the Treasury is sticking to the IRA text and made no changes to component definitions for the 45X manufacturing tax credit, including that for Torque Tube and Structural Fasteners, which the firm calls negative for Array Technologies (ARRY), which was hoping for domestic manufacturing credit for their clamps. However, this was not in company guidance or the firm’s estimates, notes the analyst, who has a Neutral rating on Array shares.
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