JPMorgan raised the firm’s price target on Nextpower (NXT) to $125 from $110 and keeps an Overweight rating on the shares. The company reported a strong fiscal Q3 with results well above expectations, the analyst tells investors in a research note. The firm says Nextpower’s book-to-bill was greater than 1-times and its backlog reached a new record driven by strength in the U.S., record bookings in Europe, and expansion into two new countries. JPMorgan highlights Nextpower as a top pick, seeing “multiple paths to upside,” including continued tracker share gains and progress expanding to a broader platform of solar solutions.
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