BMO Capital raised the firm’s price target on Nextracker (NXT) to $50 from $48 and keeps a Market Perform rating on the shares after its Q3 earnings beat. Management commentary and strong sequential backlog growth confirms that the company’s 2026 topline will continue to grow, which has been a source of debate, even though the year-to-date operating expenditure in first year post-spin implies flattish FY26 EBITDA trajectory, the analyst tells investors in a research note.
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