Jefferies analyst Dushyant Ailani initiated coverage of Array Technologies (ARRY) with a Hold rating and $18 price target. Array provides solar ground mounting tracking systems and while the firm is constructive on utility-scale solar, the focus remains on Array’s ability to convert its backlog to revenue and continue adding to it. Array has experienced project delays, which is an issue “not particularly prevalent for peers” Nextracker (NXT) and Nacco (NC), says the analyst, who notes that risks around added delays keep the firm at Hold.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ARRY:
- Array Technologies call volume above normal and directionally bullish
- Array Technologies price target lowered by $4 at Morgan Stanley, here’s why
- Array Technologies Appoints Solar Industry Veteran Jessica Lawrence-Vaca as Senior Vice President, Policy and External Affairs
- Array Technologies management to meet virtually with Seaport Research
- Array Technologies initiated with a Neutral at Mizuho