Analyst Jon Windham from UBS maintained a Buy rating on NEXTracker, Inc. Class A and keeping the price target at $125.00.
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Jon Windham has given his Buy rating due to a combination of factors that highlight NEXTracker, Inc.’s potential for growth and profitability. The company’s recent Capital Markets Day emphasized its strategic move to expand into adjacent product markets, particularly the higher-margin inverter segment, which is expected to enhance profitability and provide opportunities for capital redeployment.
NEXTracker’s rebranding to Nextpower Inc. signifies its transformation into a more diversified electric hardware and services company. The company’s financial targets for FY2030, including significant revenue and EBITDA growth, along with a robust free cash flow projection, underscore its strong financial outlook. These targets, which do not yet account for potential mergers and acquisitions, suggest further upside potential, reinforcing the Buy rating.
In another report released yesterday, Roth MKM also reiterated a Buy rating on the stock with a $120.00 price target.