Jefferies lowered the firm’s price target on Shoals Technologies (SHLS) to $8 from $10 and keeps a Buy rating on the shares. Following the firm’s conference, the analyst came away “slightly cautious” on Shoals as the firm sees management prioritizing market share gains over margins in a strategic shift that the firm views as likely driven by increasing competitive landscape and potential decline in solar deployments post 2030 after the ITC expires. However, the firm still sees 28% upside from current levels, the analyst noted.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHLS:
- Unusually active option classes on open March 11th
- Shoals Technologies Earnings Call: Growth With Margin Strain
- Shoals Technologies price target lowered to $8.50 from $11 at Citi
- Shoals Technologies price target raised to $8 from $7 at Mizuho
- Shoals Technologies price target lowered to $11 from $12 at UBS