Roth Capital upgraded FTC Solar (FTCI) to Buy from Neutral with a price target of $15, up from $5.50. The company has shown consistent execution since CEO Yann Brandt took over a year ago, the analyst tells investors in a research note. Since then, FTC Solar has turned things around, delivering four consecutive quarters of top-line growth, a strong 18.5% Q4 gross margin guidance setting a new base, improved its balance sheet with a healthy liquidity position, and has won business with multiple developers, the firm says.
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