Morgan Stanley downgraded Shoals Technologies (SHLS) to Equal Weight from Overweight with a price target of $9.50, down from $11. The firm adjusted ratings in the clean technology space as part of its 2026 outlook. Demand fundamentals should “reemerge as the driving force” for the sector in 2026 amid improved policy clarity, the analyst tells investors in a research note. Morgan Stanley is bullish on data center growth, which is believes creates constructive outlooks on gas, solar, storage, and fuel cells. It cites pricing competition and potential market share challenges for the downgrade of Shoals.
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