JPMorgan analyst Mark Strouse lowered the firm’s price target on Shoals Technologies (SHLS) to $9 from $11 and keeps an Overweight rating on the shares. The firm adjusted targets in the clean energy and power infrastructure group as part of a Q1 preview. JPMorgan sees a “catalyst-rich environment” with data center contract announcements and increased order volumes likely to continue to “buoy sentiment.” The analyst maintains a preference for stocks with significant exposure to U.S.-based manufacturing, diversified end markets, and strong balance sheets.
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