H.C. Wainwright raised the firm’s price target on FTC Solar (FTCI) to $20 from $5 and keeps a Buy rating on the shares. The firm cites the company’s better than expected execution and stronger than expected Q4 outlook for the target boost. FTC now has a “materially improved” balance sheet and its new 1GW supply agreement that provides further commercial validation, the analyst tells investors in a research note. H.C. Wainwright says the company is positioned to deliver positive gross margins and adjusted EBITDA for the year.
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