Piper Sandler raised the firm’s price target on Nextracker (NXT) to $65 from $49 and keeps an Overweight rating on the shares. The firm cites another strong quarter with EBITDA over 20% above expectations. And while backlog didn’t clear $5.0B, it expanded quarter-over-quarter, Piper adds. Nextracker is taking a “prudent” approach to 2026 given macro uncertainty and guided EBITDA 2% below expectations. However, the company has earned the benefit of the doubt as final 2025 EBITDA was 20% above initial guidance, the firm argues.
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Read More on NXT:
- NEXTracker’s Strategic Positioning and Strong Performance Justify Buy Rating and Increased Price Objective
- NEXTracker Reports Record Revenue and Strategic Expansion
- NEXTracker Announces Board Changes Amid Strong Q4 Results
- Nextracker sees FY26 adjusted EPS $3.65-$4.03, consensus $3.87
- Nextracker to acquire Bentek in $78M all-cash transaction
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