Amit Dayal, an analyst from H.C. Wainwright, maintained the Buy rating on FTC Solar (FTCI – Research Report). The associated price target is $5.00.
Amit Dayal has given his Buy rating due to a combination of factors that suggest a positive outlook for FTC Solar. The company has shown a sequential improvement in revenue, with management indicating that revenues have likely bottomed out in the previous quarter. This is supported by a strong contracted backlog, including a significant 5GW supply contract with Recurrent Energy, which is expected to contribute to revenue in the latter half of 2025.
Additionally, FTC Solar’s strategic initiatives, such as hiring a new chief commercial officer and aiming for an adjusted EBITDA breakeven run rate by the end of the year, are indicative of a focused turnaround effort. The company’s balance sheet has been strengthened through recent financing arrangements, positioning it well to execute its new strategy. Furthermore, the company’s ability to offer faster and safer solar project deployments, along with its compliance with domestic content requirements, enhances its value proposition in the U.S. market. These factors, along with an adjusted price target reflecting recent changes, underpin Amit Dayal’s Buy rating for FTC Solar.
In another report released on March 31, TD Cowen also maintained a Buy rating on the stock with a $5.00 price target.