Truist analyst Jordan Levy raised the firm’s price target on Nextracker (NXT) to $56 from $54 and keeps a Buy rating on the shares. The company continued to demonstrate the value of its global footprint and diversified supply chain in Q3, posting another all-around beat and increased EBITDA guide that are setting tNextracker up for a record revenue quarter in Q4, the analyst tells investors in a research note. Despite continued negative sentiment in the utility-scale sector, Nextracker talked to continued solar momentum both in the U.S. and internationally, evidenced by further growth in backlog during the quarter, Truist added.
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