UBS raised the firm’s price target on Shoals Technologies (SHLS) to $12 from $9 and keeps a Buy rating on the shares. Shoals reported Q3 adjusted EBITDA below consensus expectations and highlighted its record backlog of $721M, including $18M of orders for battery storage and data center products, the analyst tells investors in a research note. Shoals’ record backlog further underscores the scale of demand for clean energy generating projects driven by load growth from data centers and large technology companies, UBS says.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHLS:
- Shoals Technologies Group: Buy Rating Affirmed Amid Record Backlog and Strategic Growth in Clean Energy Markets
- Shoals Technologies Group Reports Strong Q3 2025 Results
- Shoals Technologies Group Reports Record Revenue and Strategic Growth
- Positive Outlook for Shoals Technologies Group: Strong Revenue, Growth Prospects, and Buy Rating
- Shoals Technologies Group: Strong Financial Performance and Strategic Growth Drive Buy Rating