Analyst Ameet Thakkar of BMO Capital maintained a Hold rating on NEXTracker, Inc. Class A, boosting the price target to $93.00.
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Ameet Thakkar has given his Hold rating due to a combination of factors impacting NEXTracker, Inc. Class A. The company’s recent earnings update showed strong bookings and a significant backlog, which are positive indicators. However, the integration and impact of newly-acquired non-tracker businesses remain difficult to quantify, creating some uncertainty.
Additionally, while NEXTracker’s shares are expected to perform well leading up to the upcoming capital markets day, the company’s non-tracker businesses are still in the early stages of growth and require further investment in research and development. This could impact margins in the short term. Despite these challenges, the company’s strong market position and potential for international expansion provide a balanced outlook, justifying the Hold rating.
NXT’s price has also changed dramatically for the past six months – from $40.130 to $90.380, which is a 125.22% increase.