NEXTracker, Inc. Class A, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Ameet Thakkar from BMO Capital maintained a Hold rating on the stock and has a $93.00 price target.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Ameet Thakkar’s rating is based on a combination of factors surrounding NEXTracker, Inc.’s recent developments and market positioning. The company’s rebranding to Nextpower and its broadened solar solutions portfolio, including trackers and other components, were highlighted during its Capital Markets Day. However, the financial guidance for FY27 and FY30 was below expectations, indicating a potential flattening in core tracker growth.
Despite the company’s compelling presentations and differentiated solutions, the valuation remains high, with NEXTracker trading at a significant premium. While there is confidence in the company’s ability to meet or exceed its guidance based on its track record, the current valuation suggests limited upside potential. Additionally, while global demand for solar tracking equipment is expected to remain strong, concerns about declining average selling prices and potential market flattening contribute to the Hold rating.
In another report released yesterday, Northland Securities also maintained a Hold rating on the stock with a $89.00 price target.