Shoals Technologies price target lowered to $11 from $12 at UBS

UBS lowered the firm’s price target on Shoals Technologies (SHLS) to $11 from $12 and keeps a Buy rating on the shares. The Q4 results reflect significant headwinds to Shoals’ gross margin profile given shifting product mix, rising input costs, and increasing competition, but there is the potential for significant upside driven by the Battery Energy Storage Solutions segment longer-term given increasing demand for storage from data center customers, the analyst tells investors in a research note.