Nextracker initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Nextracker (NXT) with an Outperform rating and $55 price target The company has built a track record for continued operational improvement and has made structural enhancements the past few years that are resulting in more favorable cost absorption, the analyst tells investors in a research note. The firm believes Nextracker’s “unique” product design can reduce overall system cost and its “industry leading” software can be a “significant value add for customers.” RBC sees upside to fiscal 2026 and 2027 consensus estimates and believes a valuation premium to peers is warranted for the shares.