Morgan Stanley lowered the firm’s price target on Shoals Technologies (SHLS) to $6 from $7 and keeps an Overweight rating on the shares. Utility-scale component suppliers First Solar (FSLR) and Shoals are both well positioned to “dominate the domestic utility-scale solar industry,” but the firm has trimmed its Shoals target after having marked its model to market with updated cost of capital assumptions, the analyst tells investors.
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